The October Consumer Price Index (CPI) report showed that food inflation rose 0.2% month over month and 2.1% year over year. Cal Poly agribusiness professor Ricky Volpe joins Wealth! to discuss the outlook for food prices in the US.

Volpe explains that despite the uptick, "we're on track for normalcy." He notes that food price inflation is expected to rise around 2% annually on average, but grocery price inflation for 2025 is set to come in below that historical norm.

"We are headed toward a year of grocery prices actually decreasing in real terms, with food price inflation actually lagging behind overall economy-wide inflation," Volpe says.

Even with categories like beef, pork, and chicken being among the hardest hit by grocery price inflation, Volpe observes that consumers are returning to their normal spending patterns on these items.

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This post was written by Angel Smith