Sponsored By

Food Inflation Rate Dips in August as Meats Recede

CPI data shows 4.6% year-over-year inflation. Although the rate of retail food price inflation declined for a second straight month, grocery bills were still 4.6% higher year over year, according to the consumer price index.

Jon Springer, Executive Editor

September 14, 2020

1 Min Read
receipts
receiptsPhotograph: Shutterstock

Food prices at retail stores were up by 4.6% on a year-over-year basis in August, but the rate of increase slowed from July as bakery and meat categories further recovered from COVID-related availability issues driving spikes in pricing during May and June.

The U.S. Bureau of Labor Statistics’ consumer price index for food-at-home, a proxy for inflation at supermarkets, fell by 0.1% in August after falling 1.1% in July. The August decrease was triggered primarily by the index for meat, poultry fish and eggs, which fell 4.4% in August, its second straight month of sharp declines. The cereals and bakery products index in the meantime declined by 0.2%.

The remaining four major grocery store food group indexes increased in August. The index for dairy and related products rose 1.5% in August after declining in June and July. The index for other food-at-home rose 0.5%, the index for fruits and vegetables rose 0.2%, and the index for nonalcohol beverages advanced 0.1%, the Bureau said.

On a year-over-year basis, all five categories are up, led by meats at 7.1%.

CPI Aug 2020

About the Author

Jon Springer

Executive Editor

Jon Springer is executive editor of Winsight Grocery Business with responsibility for leading its digital news team. Jon has more than 20 years of experience covering consumer business and retail in New York, including more than 14 years at the Retail/Financial desk at Supermarket News. His previous experience includes covering consumer markets for KPMG’s Insiders; the U.S. beverage industry for Beverage Spectrum; and he was a Senior Editor covering commercial real estate and retail for the International Council of Shopping Centers. Jon began his career as a sports reporter and features editor for the Cecil Whig, a daily newspaper in Elkton, Md. Jon is also the author of two books on baseball. He has a Bachelor of Arts degree in English-Journalism from the University of Delaware. He lives in Brooklyn, N.Y. with his family.

Stay up-to-date on the latest food retail news and trends
Subscribe to free eNewsletters from Supermarket News

You May Also Like