Food prices increased 0.8% in August, the smallest monthly increase since December 2021, according to the most recent CPI report. This increase comes after July’s larger jump of 1.1% and marks nearly two years of consecutive monthly increases.
Food at home
The food at home index increased 0.7%, and prices rose for all six major grocery store group indexes during this time. The index for cereals and bakery products rose the most at 1.2%, followed by other food at home, which rose 1.1%.
Price changes for the other major grocery store groups included:
- Fruits and vegetables: +0.5% (+0.5% in July)
- Meats, poultry, fish, and eggs: +0.5% (+0.5% in July)
- Nonalcoholic beverages: +0.5% (+2.3% in July)
- Dairy and related products: +0.3% (+1.7% in July)
The food at home index has risen 13.5% over the past 12 months, the index’s largest yearly increase since the period ending March 1979. The index for other food at home saw an increase of 16.7%, and the index for cereals and bakery products went up 16.4% during this time. The remaining grocery store groups increased anywhere from 9.4% (fruits and vegetables) to 16.2% (dairy and related products).
Food away from home
The index for food away from home increased 0.9% in August after rising 0.7% in July. The index for full service meals jumped 0.8% after a 0.6% increase last month, and limited service meals rose 0.7% after an increase of 0.8% last month.
The food away from home index went up 8.0% over the past 12 months. The index for full service meals rose 9% during this time, and the index for limited service meals rose 7.2%.
