Short-lived grocery relief ended in May. Home price meals reversed the course, rising 0.3% after a rare decline in April. Latest Consumer Price Index Data Released today.
Food at home
Food indexes in foods rose 0.3% in May, indicating a return to price pressure after a 0.4% decline in April (first decline since September 2020). Three of the six major grocery store food groups were listed, while the other three declined.
Cereals and bakery products led profits with a significant 1.1% jump, with other foods at home rising 0.7% and fruits and vegetables rising 0.3%. On the decreasing side, meat, chicken, fish and eggs fell by 0.4% as egg prices fell 2.7%. Dairy and related products fell 0.1%, while non-alcoholic beverages fell 0.3%.
Over the past year, the Food at Home Index has risen by 2.2%. The meat, chicken, fish and egg index saw the sharpest annual increase at 6.1%, driven primarily by a dramatic 41.5% surge in egg prices. Non-alcoholic beverages rose 3.1%, dairy and related products rose 1.7%, while other foods in the home rose 1.4%. Cereals and bakery products recorded a modest profit of 1.0% per year, while fruits and vegetables fell by 0.5% per year, lowering the trend.
Food away from home
Restaurant prices remained a steady rise, with foods away from home indexes rising 0.3% in May. Both full-service meals and limited-service meals contributed equally to the increase, each recording a profit of 0.3%.
Foods away from home have increased by 3.8% over the past 12 months, full-service meals increased by 4.2%, and service meals increased by 3.5%.
