Food at Home Prices Jump 0.5% in January, Driven by Sharp Rise in Egg Costs

Food prices continued their upward trend in January, with the latest Consumer Price Index showing a 0.4% increase. The rise was notably influenced by a dramatic surge in egg prices, which saw their largest monthly increase since June 2015.

Food at home

The food at home index rose 0.5% in January, as four of the six major grocery store food groups posted increases. The most significant change came in the meats, poultry, fish, and eggs category, which jumped 1.9% over the month. This increase was largely driven by a striking 15.2% rise in egg prices, which accounted for approximately two-thirds of the total monthly food at home increase.

Price changes for the other grocery categories included:

• The nonalcoholic beverages index increased 0.9%.
• Other food at home and dairy products both saw moderate increases of 0.3%.
• Cereals and bakery products fell 0.4%, influenced by a 3.3% decrease in breakfast cereal prices.
• The fruits and vegetables index declined 0.5%, with notable drops in tomatoes (-2.0%) and other fresh vegetables (-2.6%).

Looking at the bigger picture, the food at home index has risen 1.9% over the past year. The meats, poultry, fish, and eggs category led this increase with a 6.1% rise, dramatically influenced by a 53.0% surge in egg prices over the 12-month period. Other notable annual increases included nonalcoholic beverages (+2.2%), dairy products (+1.2%), and other food at home (+0.8%).

Food away from home

The food away from home index increased 0.2% in January, with limited service meals rising 0.3% and full service meals up 0.1%.

Over the past 12 months, the food away from home index has increased 3.4%, with both limited and full service meals showing identical 3.3% increases.