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Report: CPI Data Shows Steady Food Prices in July

In News, Trends by Amelie Welden0 Comments

According to the U.S. Bureau of Labor Statistics, consumer prices for food remained unchanged in July on a seasonally adjusted basis, per the Consumer Price Index for All Urban Consumers (CPI-U). This after two months of declining prices in May and June.

Read on for more food-related details from the report.

Prices decline for food at home, but rise for food away from home

Even while the overall food index was steady, the food at home index fell 0.2% in July, continuing a general downward trend over the last 9 months.

Of the six major grocery store food group indexes, four decreased and two increased:

  • Meats, poultry, fish, and eggs fell 0.6%.
  • Dairy and related products fell 0.4%.
  • Cereals and bakery products fell 0.2%.
  • Other food at home fell 0.2%.
  • Fruits and vegetables rose 0.3%.
  • Nonalcoholic beverages rose 0.3%.

Meanwhile, the index for food away from home was up 0.2% in July.

Annual trends show a small increase in food prices

Over the last 12 months, the overall food index has risen 0.2% before seasonal adjustment, a smaller increase compared to recent years.

The food at home index declined by 1.6% in that same period, while the food away from home index rose by 2.8%

The food at home figure includes the following sector index trends over the past year:

  • Meats, poultry, fish, and eggs fell 5.6%.
  • Dairy and related products fell 3.1%.
  • Cereals and bakery products fell 0.8%.
  • Nonalcoholic beverages fell 0.5%.
  • Fruits and vegetables rose 1.4%.
  • Other food at home rose 0.1%.

Alcohol prices declined slightly in July, but show an annual upward trend

The alcoholic beverages index—which is not included in the overall food index—declined by 0.1% in July.

  • The alcoholic beverages at home index fell 0.2%.
  • The alcoholic beverages away from home index rose 0.1%

Over the last 12 months, the alcoholic beverage index has risen 1.2%.

  • The alcoholic beverages at home index increased by 0.9%.
  • The alcoholic beverages away from home index increased by 1.8%.
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