Food prices rose 0.5% in January according to the latest CPI report. This is up from December’s 0.3% increase.
Food at home
The food at home index increased 0.4% over the course of January, a slight increase from December’s 0.2% rise. Four of the six major grocery store food group indexes rose during the month, with the index for cereals and bakery products increasing the most at +1.0%.
Price changes for the other major grocery store groups included:
- Other food at home: +0.7% (+0.4% in December)
- Meats, poultry, fish, and eggs: +0.7% (+1.0% in December)
- Nonalcoholic beverages: +0.4% (+0.1% in December)
- Dairy and related products: unchanged (-0.3% in December)
- Fruits and vegetables: -0.5% (-0.6% in December)
The food at home index rose 11.3% over the past year. Cereals and bakery products saw the largest increase at 15.6%. Price increases for the other groups ranged from 7.2% (fruits and vegetables) to 14.0% (dairy and related products).
Food away from home
The food away from home index rose 0.6% in January, following December’s 0.4% increase. The index for limited service meals increased 0.7% after rising 0.5% in December, and the index for full service meals rose 0.5% after inching up 0.1%.
The index for food away from home increased 8.2% over the past year. The index for full service meals went up 8.1%, and the index for limited service meals rose 6.7% during this period.