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Diane Publishing Books
How USDA Forecasts Retail Food Price Inflation
Annemarie Kuhns (au); Richard Volpe (au); Ephraim Leibtag (au); Ed Roeger (au)
Wholesale and retail food price forecasts are useful to farmers, processors, wholesalers, consumers, and policymakers alike, as the structure and environment of food and agricultural economies are continually evolving. The U.S. Department of Agricultureńˇ╗s (USDAńˇ╗s) Economic Research Service (ERS) analyzes food prices and provides 12- to 18-month food price forecasts for 7 farm, 6 wholesale, and 19 retail food categories. In 2011, ERSńˇ╗s forecasting procedure was updated to employ a method that incorporates input prices at each stage of production. This report provides a detailed description of the revised methodology as well as an analysis of the overall accuracy and performance of individual forecasts. Figures and tables. This is a print on demand report.
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