What food items saw the largest price hikes and declines in September?

Published On Oct 10, 2024, 2:49 PM

In September, food prices in the US rose by 2.3% year-on-year, with a monthly increase of 0.4%. Prices for meat, poultry, fish, and eggs saw notable growth, led by eggs, which increased by 39.6% over the year and 8.4% from August. Contributing factors include supply constraints exacerbated by avian flu. Other food items, including beef and dairy products, also experienced price hikes. However, certain items like coffee and apples saw price declines. Overall, rising food costs continue to strain household budgets amid ongoing inflation concerns.

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Stock Forecasts

CAGView CAG chart on TradingView

Positive

The demand for food-related stocks may increase due to the ongoing inflationary pressures leading to higher prices. Companies involved in the production and distribution of eggs, beef, and other protein sources could see stock appreciation. Additionally, the rise in prices may benefit certain food retailers.

DBAView DBA chart on TradingView

Positive

Commodities such as eggs and meat might experience upward price pressures, suggesting a bullish outlook for related commodity-focused ETFs or stocks. Supply chain disruptions emphasize the need for investments in food production and logistics companies.

KRView KR chart on TradingView

Positive

As consumers become more budget-conscious, companies known for value offerings or cost-efficient food products might thrive, which can be an opportunity for stocks in the discount grocery sector.

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