Food Prices Rise Again, a Bit Slower, What’s in Your Basket? – Mish Talk

January 14, 2023

The Consumer Price Index for All Urban Consumers (CPI-U) fell 0.1 percent in December on a seasonally adjusted basis.

Almost all of the decline is due to a 9.5 percent decline in the price of gasoline. This post puts a spotlight on food.

Month-Over-Month Food Details

The food index increased 0.3 percent in December following a 0.5-percent increase in November.
The food at home index rose 0.2 percent in December. Three of the six major grocery store food group indexes increased over the month. The index for meats, poultry, fish, and eggs increased 1.0 percent.
The index for eggs rose 11.1 percent.
The index for other food at home rose 0.4 percent over the month
The index for nonalcoholic beverages increased 0.1 percent in December.
The food away from home index rose 0.4 percent in December, after increasing 0.5 percent in November.
The index for limited service meals increased 0.5 percent over the month and the index for full service meals increased 0.1 percent.

Year-Over-Year Food

Year-Over-Year Six Food Categories

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Year-Over-Year Food Details

The food at home index rose 11.8 percent over the last 12 months.
The index for cereals and bakery products rose 16.1 percent over the year.
The remaining major grocery store food groups posted increases ranging from 7.7 percent (meats, poultry, fish, and eggs) to 15.3 percent (dairy and related products).
The index for food away from home rose 8.3 percent over the last year.

Gasoline, Shelter, and Energy

For discussion of other CPI details, please see CPI Declines Due to Gasoline But Food and Shelter Costs Jump Again

This post originated on MishTalk.Com.

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