The changing prices for restaurant food supplies according to the PPI Report
From the January PPI Report
Every month the government releases data on how food prices have changed for food manufacturers and restaurants. Below is a simple breakdown of the most recent report (released Jan 13th). The full report, and past reports can be found here.
Importantly, this data is from December so it may pre-date the larger impacts of Omicron.
Beef and Veal
Beef and Veal prices were up +28.9% vs. last year, but down -8.6% in December compared to November.
Pork was up +12.3% vs. last year, and down -2.1% in December compared to November.
Dairy product prices were up a relatively modest +7.0% vs. last year, and +2.7% in December compared to November, but Butter was much higher at +37.3% above December 2020 prices.
All grain prices are higher , +43.6% vs. year ago, +6.0% in December compared to November. Wheat prices were +58.6% vs. year ago and Corn was +41.3%
While vegetable prices are down +20.4% year-over-year, they were most recently down -14.7% in December compared to November.
Fish and Shellfish
Fish and Shellfish were up +30.0% vs. Year Ago, and up +0.7% in December compared to November.
More on The Producer Price Index (PPI)
In the simplest terms, the PPI Report measures how costs are changing for people who make products for consumers. Food costs are a key component of PPI and are broken out within the report.
These changes will be different from the price changes you see from your distributors, but the information may help you understand where food prices have been and where they're headed.
We pulled out the most relevant data to restaurant owners and managers (from the over 300 page monthly report), to save you time. The full report and past reports can be found here.
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