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The annual rate of grocery price inflation is the highest since this time last year; however, it’s a far cry from 2022 when it averaged 11.4% and peaked at 13.5% — well above overall inflation ...
It forecast food price inflation would rise from 1.8% last month to 4.2% in the latter half of this year, and that price rises will continue for vegetable oil, orange juice, butter, and coffee.
Like the rest of inflation data, grocery prices are coming in hotter after slightly moderating last year.. The cost of groceries remained flat in March and is up 1.2% year over year, according to ...
Food prices overall were unchanged at 1.8% higher than a year ago – the lowest since November 2021 – as was fresh food inflation at 1.2%, although ambient food inflation edged up to 2.8% from ...
So while the latest 2.2% annual food inflation rate for March 2024 seems more manageable, it doesn’t negate the cumulative 25.8% increase in grocery prices since that November 2020 election.
Still, grocery prices are higher than they were a year ago. In the 12 months through April, prices rose 1.1%. But overall inflation for that period was higher, up 3.4%.
Food inflation is a type of inflation, that effects food items. See also. Right to food; Food insecurity; Food politics; Food system; Food riot; Food system; References
Egg prices, which are historically volatile, contributed to the stubborn grocery inflation. The item saw a 30.4% year-over-year increase but a 6.4% decline month over month, the largest since April.