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US food prices see historic jump and are likely to stay high

US food prices see historic jump and are likely to stay

Field Notes, powered by KPMG, is a weekly news update on news nationally and globally from the agri-food sector.

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Ian Proudfoot

Global Head of Agribusiness, Partner - Audit

KPMG in New Zealand

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[31 May, David Pitt, abc News] US

US shoppers have recently seen the price of meat, eggs and produce such as potatoes and carrots soar due to Covid-19 disruption in processing plants and distribution networks. Analysts have cautioned that meat prices may remain high due to slaughterhouses struggling to maintain production levels. The US Labor Department reported a 2.6 percent increase in food prices in April which is the largest monthly increase in 46 years. The price increase is expected to negatively affect the newly unemployed.

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