Food prices are steadily increasing, now for the eighth consecutive month, according to the most recent CPI report. The overall food price index went up by 1.5% in April, significantly greater than March’s 0.3% increase.
Food at home
Food at home prices saw incredible growth in April at 2.6%, up from the 0.5% increase in March.
All six major grocery store food groups experienced price increases of at least 1.5% for the month. Meats, poultry, fish, and eggs led the way with a 4.3% increase, primarily due to a 16.1% increase in the price index for eggs. Other notable changes included:
- Nonalcoholic beverages: +2.9% (+0.9% in March)
- Cereals and bakery products: +2.9% (+0.1% in March)
- Fruits and vegetables: +1.5% (+0.8% in March)
- Dairy and related products: +1.5% (+0.6% in March)
April’s sizable increases brought the food at home index for the past 12 months to +4.1% (compared to the 1.1% increase reported in March). For the year-long period, all the major grocery store food group prices went up, including:
- Meats, poultry, fish, and eggs: +6.8%
- Dairy and related products: +5.2%
- Nonalcoholic beverages: +5.0%
- Fruits and vegetables: +0.4%
Food away from home
Following a 0.2% increase in March, food away from home prices went up by only 0.1% in April. This includes a 0.7% increase for limited service meals and a 0.3% decline in full service meals.
The 12-month index for food away from home is now at +2.8%, with limited service meals at +3.2% and full service meals at +2.4% for the period.