You may have noticed a slightly lower grocery bill . That’s coming up on This Land of Ours.
The Food Price Index averaged 129.8 points in February 2023, down 0.6 percent from January and continuing the downward trend for the eleventh-consecutive month. As of February, the index has dropped 30 points from the peak it reached in March 2022.
The marginal decline in February reflected significant drops in the price indices of vegetable oils and dairy together with smaller drops in cereals and meat indices. The sugar price index was the only one to rise sharply, up 8.1 points to 124.9 in February. The Cereal Price Index averaged 147.3 points in February, down a fraction from January and two points above its level one year ago. The Vegetable Oil Price Index averaged 135.9 points, down 4.5 points from January and reaching the lowest level since early 2021. The Dairy Price Index was 131.3 points, 3.6 points lower than in January, and the Meat Price Index dropped fractionally to 112 points.
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Sabrina Halvorson
National Correspondent / AgNet Media, Inc.
Sabrina Halvorson is an award-winning journalist, broadcaster, and public speaker who specializes in agriculture. She primarily reports on legislative issues and hosts The AgNet News Hour and The AgNet Weekly podcast. Sabrina is a native of California’s agriculture-rich Central Valley.