Grocery food prices fell while restaurant prices rose in March, according to the most recent CPI report. However, there was no change in the overall food price index for the month, following February’s 0.4% increase.
Food at home
The food at home index decreased 0.3% over the course of the month, reversing its 0.3% rise in February. This marks the index’s the first decline since September 2020.
Three of the six major grocery store groups saw decreases during the month. The index for meats, poultry, fish, and eggs saw the biggest decrease at 1.4%, with egg prices decreasing 10.9%. The fruits and vegetables index decreased 1.3%, and the dairy and related products index inched down 0.1%.
Price changes for the other major grocery store groups included:
Cereals and bakery products: +0.6% (+0.3% in February)
Other food at home: +0.4% (+0.3% in February)
Nonalcoholic beverages: +0.2% (+1.0% in February)
The food at home index increased 8.4% over the past year. The largest increase was in cereals and bakery products, which increased 13.6% during this time period. Other grocery store food group increases ranged from 2.5% (fruits and vegetables) to 11.3% (nonalcoholic beverages).
Food away from home
The food away from home index increased 0.6% during March, the same increase as the previous two months. Full-service meals increased 0.7% during this time after increasing 0.6% in February. Limited service meals increased 0.5% after rising 0.7% the previous month.
The index for food away from home rose 8.8% over the last 12 months. The index for full service meals increased 8.0% during this time, while the index for limited service meals rose 7.9%.
