Farm Share of Food Dollars and Grocery Prices Hold Steady
From the Ag Information Network, this is your Agribusiness Update.
**In 2022, farms received 24.1 cents for each dollar spent on food at home and 3.6 cents for each dollar spent on food away from home.
These amounts are called farm shares.
What that means, according to USDA’s Economic Research
Service, is that the remainder of each food dollar makes up the marketing share, which includes what it costs for processing, transportation, retailing, and other activities.
**Ag Secretary Tom Vilsack announced funding for high speed internet and drinking water systems for tribal communities.
The USDA is investing $58 million in Tribal communities in Nevada, Oklahoma and South Dakota.
The funding will support economic development, high-speed internet deployment and modern infrastructure.
The projects are being financed through the ReConnect Program and the Water and Waste Facility Loans and Grants to Alleviate Health Risks on Tribal Lands Program.
**Grocery prices held steady in the February Consumer Price Index by the Department of Labor.
Three of the six major grocery store food group indexes decreased over the month, led by dairy and related products, down 0.6%, with cheese products down 1.1%.
The fruits and vegetables index also decreased 0.2%.
The cereals and bakery products index rose 0.5%, after a 0.2% January decrease.
The meats, poultry, fish, and eggs index was up 0.1%.
