Food prices increased 0.6% in October, according to data from the most recent CPI report. This increase is 0.2 percentage points lower than September’s 8% increase.
Food at home
Marking its smallest monthly increase since December 2021, the food at home index rose 0.4% during the month.
Four of the six major grocery store group indexes increased during this time, the greatest being other food at home, which increased 0.9% after a 0.5% increase in September. On the opposite end, the index for fruits and vegetables fell 0.9% over the month after increasing 1.6% in September.
Price changes for the other major grocery store groups included:
- Cereals and bakery products: +0.8% (+0.9% in September)
- Meats, poultry, fish, and eggs: +0.6% (+0.4% in September)
- Nonalcoholic beverages: +0.5% (+0.6% in September)
- Dairy and related products: -0.1% (+0.3% in September)
The food at home index has increased 12.4% over the past year. The largest increase was seen for cereals and bakery products, with an increase of 15.9%. This was closely followed by dairy and related products, which increased 15.5%. Prices for the remaining grocery store groups rose anywhere from 8.0% (meats, poultry, fish, and eggs) to 15.4% (other food at home).
Food away from home
There was no relief for food away from home prices, however, as the index rose 0.9% in October (the same amount as August and September). Full service meals increased 1.1% after a 0.4% increase in September. Limited service meals rose 0.8% after increasing 0.6% in September.
The food away from home index has risen 8.6% over the past year. The index for full service meals rose 9.0% and the index for limited service meals rose 7.1% during this period.
