Menu & Consumer Prices [November 19, 2008]
Overall Consumer Prices Plunged a Record 1.0 Percent in October; Menu Prices Continued to Soar
Driven by sharp declines in energy, transportation and apparel prices, consumer inflation posted its strongest drop on record, according to data from the Bureau of Labor Statistics. Overall consumer prices fell 1.0 percent in October on a seasonally-adjusted basis, after remaining essentially unchanged in September and edging down 0.1 percent in August... More »
Menu & Consumer Prices [November 19, 2008]
Menu Price Growth Strongest in the Midwest
Restaurants in the Midwest led the nation in menu price growth in recent months. In the 12 months ending October 2008, menu prices in the Midwest increased at a 5.4 percent rate – more than a half percentage-point above the 4.8 percent menu price gain on the national level... More »
Wholesale Food & Commodity Prices [November 19, 2008]
Wholesale Food Prices Fell 1.8 Percent in October; Still Remain on Pace for Their Strongest Growth in 29 Years
Wholesale food prices registered their sharpest decline in nearly three years in October, according to preliminary figures from the Bureau of Labor Statistics. Wholesale food prices fell 1.8 percent in October, which came on the heels of a solid 1.0 percent gain in September. In comparison, overall wholesale prices fell 2.6 percent in October (before seasonal adjustment), their third consecutive monthly decline... More »
Wholesale Food & Commodity Prices [November 19, 2008]
Commodity Prices Were Mostly Lower in October
On the commodity level, prices were generally lower in October. Wholesale beef and veal prices plunged 8.8 percent in October, their second consecutive monthly decline for a total of nearly 11 percent... More »
National Economic Trends [November 19, 2008]
Gas Prices Fell to Their Lowest Level in 44 Months
Gas prices declined for the ninth consecutive week, according to figures from the Energy Information Administration. The nationwide average retail price for a gallon of regular gasoline stood at $2.07 on November 17, roughly one-half of the record high of $4.11 registered in mid-July and the lowest level since March 2005. The steady decline in gas prices will have both tangible and psychological effects on consumers, which will help counteract to some degree the continued sluggish economy... More »
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