Grocery prices soar 10.8% as inflation remains high
Catherine Douglas Moran, GroceryDive
May 11, 2022
· Food-at-home prices increased 10.8% over the past year — the largest 12-month increase
· since November 1980 — according to Consumer Price Index (CPI) data for April released by the U.S. Bureau of Labor Statistics (BLS) on Wednesday.
· The monthly food-at-home index rose 1% in April from the 1.5% increase recorded in March.
· Increases in the costs of food, shelter, airline fares and new vehicles were the biggest factors behind the annual CPI increase for all items of 8.3% in April, which is slightly down from the record-breaking inflation rate of 8.5% recorded in March.
Grocery prices in April rose for five of the six major food categories. Dairy and related products rose 2.5%, marking its largest monthly increase since July 2007. Nonalcoholic beverages followed as the second-highest index with a 2% increase. The 1.4% price increase in April for meats, poultry, fish, and eggs was driven by eggs skyrocketing 10.3%.
Fruits and vegetables, meanwhile, was the only index that dropped for the month, declining 0.3%, down from the 1.5% jump recorded in March.
On a year-over-year basis, prices for all of the food-at-home categories increased. Meats, poultry, fish and eggs jumped up 14.3%, marking the largest 12-month increase since May 1979. Other categories logging steep annual increases included fruits and vegetables (7.8%), cereals and bakery products (10.3%), and eggs (22.6%).
Food-away-from home sales...