Inflation is cooling down, but prices holiday staples remain high
“As the holiday season approaches, shoppers are hoping for a little relief at the grocery store. According to the Consumer Price Index (CPI) release on Tuesday, it shows inflation cooling down but for some food commodities, particularly holiday staples remain high. The CPI increased to 0.1% in November, which was lower than some economists expected.
Over the last 12 months, it rose to 7.1%. Food prices went up 0.5% last month after an increase of 0.6% in October. The headlines regarding inflation are encouraging for the general economy, but consumers are not feeling it at the grocery store. Grocery prices are still 12% higher than they were a year ago. Food prices historically tend to come off slowly than other consumer goods. The good news is that food price increases and grocery price increases peaked in August.
Peru imports of blueberries through Philadelphia and New York City area ports of entry movement expected to decrease as most growers are finished for the season. Trading moderate with prices higher.
Movement of blueberries through Arizona, California and Texas is expected to increase. Trading early fairly slow, late moderate. Prices higher.
Peru imports of blueberries through Southern California ports of entry movement expected to decrease sharply as the season in Chile has begun. Remaining supplies are in too few hands to establish a market.
Chile imports of blueberries through various east coast ports of entry movement expected to increase as the season is now underway. A first trends report was issued. Chile imports of blueberries through various west coast ports of entry movement expected to increase as the season has begun.
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*This article is excerpted from freshplaza.com website, published on 19th December 2022