The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in July on a seasonally adjusted basis after rising 1.3 percent in June. This post puts a spotlight on food.
Month-Over-Month Details
- The food index increased 0.8 percent in September, the same increase as August.
- The food at home index rose 0.7 percent in September as all six major grocery store food group indexes increased.
- The index for fruits and vegetables rose 1.6 percent
- The index for cereals and bakery products rose 0.9 percent over the month.
- The index for other food at home increased 0.5 percent in September, after rising 1.1 percent in August.
- The index for meats, poultry, fish, and eggs rose 0.4 percent over the month.
- The index for nonalcoholic beverages increased 0.6 percent in September.
- The dairy and related products index rose 0.3 percent in September, the same increase as the previous month.
- The food away from home index rose 0.9 percent in September, as it did in August.
- The index for full service meals increased 0.4 percent and the index for limited service meals increased 0.6 percent over the month.
CPI Seven Food Categories Year-Over-Year
CPI data from the BLS, chart by Mish
Year-Over-Year Details
- The food at home index rose 13.0 percent over the last 12 months.
- Cereals and bakery products increased 16.2 percent.
- Food away from home rose 8.5 percent.
- Fruits and vegetables are up 10.4 percent
- Other food at home is up 15.7 percent.
- Nonalcoholic beverages are up 12.9 percent.
- Meats, poultry, fish, and eggs are up 9.0 percent.
- Dairy is up 15.9 percent
Food Components in the CPI
CPI Food Components for September 2022
The numbers change slightly every month. The above pie chart is for September.
Scroll to Continue
Year-Over-Year Bright Spot
The apparent bright spot is food away from home, only up 8.5 percent from a year ago.
But that does not factor in default tips that have soared to 20 percent. There is no escape from escalating prices.
CPI Much Hotter Than Expected Led by a Surge in Price of Food and Shelter
For a look at shelter, energy, and the core CPI, please see CPI Much Hotter Than Expected Led by a Surge in Price of Food and Shelter
This post originated at MishTalk.Com.
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