Inflation slowed in April, the 10th straight month of declines

Inflation slowed for a 10th straight month in April, good news overall for struggling U.S. families and individuals; however the food index remained unchanged. 

The Consumer Price Index climbed 4.9% in April compared to last year. Inflation also has notably come down from a peak of just over 9% last summer.

The food index was unchanged in April, as it was in March. The index for food at home fell 0.2% over the month, while the index for food away from home rose 0.4%.

Four of the six major grocery store food group indexes decreased over the month. The index for fruits and vegetables decreased 0.5% in April, and the index for meats, poultry, fish, and eggs declined 0.3% over the month. 

The dairy and related products index decreased 0.7% in April, and the milk index fell 2%, the largest decline in that index since February 2015. The nonalcoholic beverages index declined 0.1% over the month.  

Kroger CEO Rodney McMullen was on ABC News Wednesday morning commenting on April’s CPI Index and had this to say:

“Eggs are starting to come down, some of the meat, beef, chicken, things like that. A good time of the year for meat to start coming down, given we’re moving into grilling season,” McMullen said. “People are cooking at home a lot more than they used to, and you can cook at home for one-third, one-fourth the cost of going out.”

Related:Food at home sales falling, food away rising

The grocery industry group FMI (The Food Industry Association) said the slowing inflation was promising.

“Following recent price declines in the volatile commodities of meat, poultry, eggs and fish, we are seeing that while prices for food at home fall slowly, we are still headed in the right direction.”

“FMI is working alongside retailers to communicate consumer needs as we continue to battle inflationary food prices. For example, FMI’s most recent survey found that in order to minimize the effects of higher food prices, consumers are looking for deals across multiple channels – diversifying their grocery purchases between supermarkets, mass retailers, club stores and online.” 

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For the 10th straight month inflation went down, but are families really feeling any relief? The food index remained unchanged in April. What about in your supermarket? Do you see food prices reaching a level that is more tolerable? If not, when do you think that will happen? 

Let us know in the comments below or email your thoughts to the SN staff at [email protected].