Food prices rose 0.9% in October, the same increase as September, according to information from the most recent CPI report. This month marks the tenth consecutive month there has been an increase in prices.
Food at home
The food at home index increased 1.0% during the month of October, reflecting increases in all six major grocery store groups.
The index for other food at home showed an increase of 1.2% over the past month after a 1.1% increase in September, marking its largest monthly increase since April 2020. The meats, poultry, fish, and eggs category continued its sharp price increase, rising 1.7% during the month, following September’s 2.2% increase.
Price changes for the other major grocery store groups included:
- Cereals and bakery products: +1.0% (+1.1% in September)
- Nonalcoholic beverages: +0.8% (+1.2% in September)
- Dairy and related products: +0.2% (+0.7% in September)
- Fruit and vegetables: +0.1% (+0.6% in September)
Over the past 12 months, the food at home index has risen 5.4%, with all six of the major grocery store food groups increasing during this time. Meats, poultry, fish, and eggs showed the largest increase of 11.9% for the period, and the smallest increase was seen in dairy and related products at 1.8%.
The food away from home index also rose in October, showing a 0.8% increase after September’s 0.5% increase. The index for limited service meals increased 0.8%, and the index for full service meals increased 0.9% for the month.
The food away from home index has gone up 5.3% within the past year. The index for limited service meals increased 7.1% during this period, while the index for full service meals rose 5.9%. Both showed the most growth over a 12-month period in the history of the respective series. Meanwhile, food at employee sites and schools dropped significantly, decreasing by 45.4%.
