The short-lived grocery relief ended in May as food at home prices reversed course, rising 0.3% after April’s rare decline, according to the latest Consumer Price Index data released today.
Food at home
The food at home index increased 0.3% in May, marking a return to upward price pressure after April’s 0.4% drop (the first decrease since September 2020). Three of the six major grocery store food groups posted increases, while the other three declined.
Cereals and bakery products led the gains with a substantial 1.1% jump, other food at home rose 0.7%, and fruits and vegetables climbed 0.3%. On the declining side, meats, poultry, fish, and eggs fell 0.4% as egg prices dropped 2.7%. Dairy and related products edged down 0.1%, while nonalcoholic beverages decreased 0.3%.
Over the past year, the food at home index has risen 2.2%. The meats, poultry, fish, and eggs index saw the steepest annual increase at 6.1%, driven largely by a dramatic 41.5% surge in egg prices. Nonalcoholic beverages increased 3.1%, dairy and related products rose 1.7%, and other food at home climbed 1.4%. Cereals and bakery products posted a modest 1.0% annual gain, while fruits and vegetables bucked the trend with a 0.5% decrease over the year.
Food away from home
Restaurant prices maintained their steady climb, with the food away from home index rising 0.3% in May. Both full service meals and limited service meals contributed equally to the increase, each posting 0.3% gains.
Food away from home has experienced a 3.8% increase over the last 12 months, with full service meals rising 4.2% and limited service meals increasing 3.5%.
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