February was the fourth month in a row that food prices inched up, the latest CPI report shows. This time, the increase totals 0.4%.
Food at home
Each of the six grocery store food group indexes saw an upswing in February. Prices for cereals and bakery products, dairy and related products, and fruits and vegetables had all decreased in January, but tides turned in February; their price indexes rose by 0.7%, 0.3%, and 0.9%, respectively.
- Meat, poultry, fish, and eggs: +0.2%
- Cereals and bakery products: +0.7
- Dairy and related products: +0.3%
- Fruits and vegetables:+0.9
- Nonalcoholic beverages: +0.7
- Other food from home: +0.3
The recent price index increases in the food at home category has contributed to an overall gain of 1.2% in the past 12 months, the largest 12-month increase since the period ending in April 2015. Of the grocery store food group indexes, the index for nonalcoholic beverages has seen the most significant hike over the past year, rising by 2.8%.
Food away from home
Typical for this category, the index for food away from home rose by 0.4% last month.
- Limited service meals: +0.5%
- Full service meals: +0.3%
Echoing food at home’s story, the index for food away from home swelled by 2.9% over the last 12 months. At nearly 3%, this index has seen its most substantial 12-month increase since the period ending in October 2015.