Food Prices Continue to Climb in August: CPI Report

Food prices increased (+0.2%) again in August, according to the most recent CPI report from the Bureau of Labor Statistics, following an increase of the same amount in July.

Food at home

The food at home index went up 0.2% in August, after a 0.3% increase in July. The six grocery store food group indexes were evenly split during August, with three seeing increases and three seeing decreases. The index for meats, poultry, fish, and eggs saw the largest jump at 0.8%. This was followed by cereals and bakery products, which rose 0.5%.

Price changes for the other major grocery store groups included:

• Other food at home: +0.2% (+0.2% in July)
• Dairy and related products: -0.4% (+0.5% in July)
• Fruits and vegetables: -0.2% (+0.4% in July)
• Nonalcoholic beverages: -0.2% (unchanged in July)

The food at home index increased 3.0% over the past year. The index for cereals and bakery products saw the largest increase at 6.0%. The meats, poultry, fish, and eggs index was unchanged during this time period. The rest of the grocery store food groups’ increases ranged from 0.3% (dairy and related products) to 4.8% (nonalcoholic beverages).

Food away from home

The index for food away from home increased 0.3% in August, up from July’s 0.2% increase. The index for limited service meals rose 0.3% during this time after rising 0.2% in July, and full service meals went up 0.2% following the same increase in July.

The index for food away from home increased 6.5% over the last 12 months. The index for limited service meals rose 6.7%, and the index for full service meals rose 5.2% during this time.