The food price index has risen for the third month in a row, according to the most recent CPI data. Overall, the index crept up by 0.2%.
Food at home
Three of the grocery store food indexes rose while the other three fell, contributing to a price index increase of 0.1% for food from home. The indexes for cereals and bakery products, dairy and related products, and fruits and vegetables all dropped in January after rising in December. Meanwhile, the price index for nonalcoholic beverages had its most significant increase since May 2017. It’s also worth noting that the beef index climbed by 1.4%, which boosted the meat, poultry, fish, and eggs index.
- Meat, poultry, fish, and eggs: +0.6%
- Cereals and bakery products: -0.4%
- Dairy and related products: -0.3%
- Fruits and vegetables: -0.3%
- Nonalcoholic beverages: +0.8%
- Other food from home: +0.1
Over the past 12 months, five of the six grocery store food group indexes rose. The outlier is dairy and related products, which declined by 0.4%. The index for nonalcoholic beverages has seen an impressive increase of 2.2% over the same span.
Food away from home
A familiar story, food away from home rose in January, this time by 0.3%.
- Limited service meals: +0.6%
- Full service meals: +0.2%
This month’s increase brings the 12-month unadjusted change for the food away from home price index to +2.8%.