American consumers saw another uptick in food costs this October, though the increase was more modest than September’s jump. The latest Consumer Price Index (CPI) shows that food prices climbed 0.2% — half of September’s 0.4% rise — bringing the year-over-year increase to 2.1%.
Food at home
The food at home index inched up by 0.1% in October, as prices rose in five of the six major grocery store food groups. The biggest shock came from the bakery aisle, where bread prices surged 1.9%, driving an overall 1.0% increase in cereals and bakery products. However, there was some relief in the protein section — the meats, poultry, fish, and eggs category saw prices drop 1.2%, largely thanks to a substantial 6.4% decline in egg prices.
Other grocery aisles saw varying shifts:
Dairy products reversed course with a 1.0% increase, a notable jump from September’s subtle 0.1% rise.
Fresh produce continued its upward trend, though more gently at 0.4% versus September’s 0.9%.
Beverages (excluding alcohol) ticked up 0.4% after holding steady in September.
Other food at home items saw minimal movement with a 0.1% increase.
Looking at the bigger picture, grocery prices have risen 1.1% over the past year, with increases ranging from a modest 0.4% for other food at home to a more substantial 1.9% for meats, poultry, fish, and eggs.
Food away from home
After a 0.3% rise in September, the food away from home index increased 0.2% in October, with the indexes for both full and limited service meals also rising 0.2%.
The food away from home index has gone up 3.8% over the past 12 months.
