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
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
The numbers change slightly every month. The above pie chart is for September.
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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