While high grocery prices have remained a hot topic among consumers and politicians, the annual rate of food-at-home prices has held steady at about 1%.
by Catherine Douglas Moran
Grocery Dive
Food prices have remained a hot topic among consumers and politicians — yet grocery inflation has decelerated in recent months, according to government data.
Grocery inflation reached a multi-decade high during the pandemic with a 13.5% year-over-year increase in August 2022 after steadily rising each month after May 2021. Two years later, the food-at-home rate has plummeted and now hovers close to where it was prior to the COVID-19 pandemic.
Since December, the annual rate of food-at-home prices has held steady at about 1%. In September, the rate came in at 1.3%, according to Consumer Price Index data by the U.S. Bureau of Labor Statistics.