Prices of all food products rose by 26.8 percent during the last decade, which exceeded the rate of inflation of 21.9 percent during the same decade. High oil prices, which increase the shipping cost, droughts, and floods, are key factors influencing food prices over time, which causes significant product shortages and an increasing appetite for expensive food from the affluent global population.
These factors have increased overall demand and food prices for a long period, but in the short run food supply/demand varies due to weather, disease outbreaks and changes in consumer preference. In addition, the price surges faster than most other food items have led to factors such as 2015 avian influenza, California drought and costly organically grown food in the United States and milk & food products in developing countries.
Butter and Margarine
Price increase in a decade: 54.9%
Butter in WWII was the most popular spread of 2010 because of shortages and butter rationing that forced Americans to replace margarine by the middle of the fifties. As the health effects of saturated fats on butter and milk products were neglected, butter demand increased. While it is the replacement of butter and margarine with the increasing demand for one that corresponds to the fall in demand for the other, prices have both rose over the last decade. Butter prices rose by 42.1%, with margarine prices rising by 62.1% in the last decade, more rapidly than almost all food.
Uncooked Ground Beef
Price increase in a decade: 52.5%
The steep growth in the price of ground beef is largely attributed to a lack of beef supply in the country, as well as to a rising energy and feed price, which has occurred annually in the country’s main cattle-producing regions. As the average retail price of fresh beef grew in January 2007 from $3.63 a pound to $5.68 in December 2017, the per-capita consumption of beef in the United States dropped also by 15 percent.
Price increase in a decade: 43.9%
Despite significant competition in the sector, the prices of prescription drugs increased recently in major pharmaceutical companies. Prices have doubled since 2011 for 40 percent of the most sought after prescription drugs in the United States. In recent years, the demand for drugs has risen despite rising costs. As claimed by the CDC (Centers for the Control and Prevention of Disease) almost 50 percent of Americans use at least one prescribed drug per month, with demand growing over 2 decades.
Bacon and related products
Price increase in a decade: 41.6%
The constant price rise for bacon was due to the growing demand from consumers, combined with a large scarcity of pork supply. Only 14.0 million pounds were made available in January 2017 for stock-grade pork belly, a 70% decline over a decade ago, and the decline since 1957, the US says. Agriculture Department.
Uncooked beef steaks
Price increase in a decade: 41%
Salt, spices, and seasonings
Price increase in a decade: 36.5%
The growing demand and sales growth for gourmet salts, such as fleur de salt, sel gris and Himalayan salt, have been among the major factors leading to increased salt prices. Although the sharp rise in costs for this specific product with other products would reduce demand, the sodium consumption of the American population was not influenced in the last decade, according to the CDC.