CPI for Food Higher and SCOTUS New Year Ag Cases

CPI for Food Higher and SCOTUS New Year Ag Cases

Bob Larson
Bob Larson
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.

**The USDA says the Consumer Price Index for Food moved higher in November, up 0.5% from October and 6.1% higher than November 2020.

The level of food price inflation varies depending on whether the food was purchased for consumption at home or away.

The food-away-from-home, or restaurant purchases, CPI increased 0.6% in November and was 5.8% higher than a year earlier.

The food-at-home CPI increased 0.3% from October to November and was 6.4% higher than November 2020.

**The USDA says inspections for overseas wheat deliveries rose week-to-week while corn assessments dropped.

Wheat inspections during the week ending December 23 totaled 271,350 metric tons, up from nearly 227,000 tons the week prior, but well below the 407,400 examined during the same week in 2020.

Corn assessments totaled 719,000 metric tons, down one million tons the previous week, and down from the 1.27 million tons for the same time in 2020.

**The first week of the new year could be a big one for American agriculture when the Supreme Court will likely hear several high-stakes cases that could make or break several ag groups.

Those include challenges to California’s Prop 12, an appeals court ruling that eliminated year-round E15 ethanol, and a long-fought Clean Water Act case dealing with Environmental Protection Agency authority over farmers and ranchers.

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