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Food Prices Tick Up in July: CPI Data

In News by Krista Garver0 Comments

After holding steady in June, food prices ticked up 0.2% in July, according to the latest Consumer Price Index report. That brings the total increase over the past 12 months to 1.1%.

Proteins, produce, and dairy prices rose

The overall increase was driven largely by meat, poultry, fish, and eggs, which gained 0.7% in July, after increasing 0.6% in June. In particular, beef prices are going up, thanks to a confluence of factors including lower supply and trade complications.

Fruits and vegetables saw a 0.5% price increase, compared to a 0.1% decrease the previous month. Similarly, dairy prices were up 0.3% in July, following a 0.5% decrease in June.

Bakery and beverage prices fell

The two main categories experiencing decreases were cereals and bakery (-0.4%) and nonalcoholic beverages (-0.3%). The index for other food at home remained unchanged.

Food away from home up 2.1% over the past 12 months

Finally, food away from home prices were up 0.2% in July, bringing the 12-month total to 2.1%.

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