However, the convergence rate in the central, western, northeastern and central regions is slower.follow this postal.
figure 1: CPI – Household Food Nationwide (bold blue), February ERS forecast (light blue squares), b/c Midwestern Cities (tan), Northeastern Northeast (green). The Midwest and North Central series are seasonally adjusted using X-13. NBER-defined recession peak-to-trough dates are in gray. Source: BLS, ERS, and author's calculations.
Food prices are rising faster than the overall consumer price index, both nationally and in the Midwest. However, nationwide convergence is progressing faster (mainly my overall CPI is rising faster).
figure 2: CPI – Log ratio of domestic food to overall national CPI (bold blue), Middle East and North (green). The Northeast-Central series is seasonally adjusted using X-13. NBER-defined recession peak-to-trough dates are in gray. Source: BLS and author's calculations.
