The latest food price inflation forecast reveal what many people find to be true, and that is its cheaper to eat at home as opposed to going out.
According to United States Department of Agriculture Economist Ricky Volpe, the average inflation for food at home in 2013 is one to two percent, compared to two to three percent for food away from home.
He says fast food, sit down establishments, and other similar restaurants are what are considered in the food away from home category.
Volpe says the two to three percent mark for food away from home is right in line with the last few years.
“Almost regardless of what is happening in the macro economy, the food away from home CPI seems to trudge along at 2 to 3 percent per year every year”, said Volpe. “This is true whether the at home CPI is surging or is flat, such as it is this year.”
The factors that contribute to the food away from home price inflation forecasts aren’t very volatile says Volpe, and its not surprising with that being the case that the inflation forecasts are fairly consistent.