Speaking of higher prices, I think its fair to say that price inflation played a part in the...
Consumer price inflation has been a genuine concern for the economy and the consumer for the last few years. Last week's October headline number of a 3.2 percent annual gain has led the "inflation is normalizing" cheer. And the chart below suggests were close. But I caution that it may be hard to normalize inflation until wage inflation normalizes which is still tracking ~4 percent above prior year. To give you some perspective, and you know I love to do so, annual wage inflation for the decade before COVID averaged at 2.4 percent.
Datum FS offers an extensive range of forecasts for more than 50 commodities, including beef, dairy, grains, pork, and chicken markets. If you're interested in exploring a complimentary trial of our forecasts and commentary, or learning more about the services provided by Datum FS, simply click on the home button above. Thank you for taking the time to read.
