Grocery prices are at their highest in three months

Grocery prices were up slightly in the month of October, matching a six-month high at 0.3%, according to the U.S. Bureau of Labor Statistics. At-home food prices also went up 0.3% in July. Over the last 12 months, food at-home prices were up 2.1%.

Meanwhile, the Consumer Price Index for All Urban Consumers went unchanged in October after increasing 0.4% in September.

Four of the six major grocery store food group indexes increased in October. Pork and beef rose 1.3% and 1.2%, respectively, while meats, poultry, fish, and eggs were up 0.7%. After falling 0.4% in September, cereals and bakery prices were up 0.2% in October. Other food at home and dairy and related products spiked 0.3%.

During the last year, cereals and bakery lead all grocery categories with a 4.2% price increase. Other food at home is up 3.6% and the price for meat, poultry, fish, and eggs has risen 0.4%. The price for dairy and related products dropped 0.4% over the last 12 months.

By comparison, food price inflation was down in September but flattened for groceries.

The food index rose 0.2% in September, as it did in the previous two months. The index for food at home increased 0.1% over the month, after rising 0.2% in August. 

Three of the six major grocery store food group indexes increased over the month. The index for meats, poultry, fish, and eggs rose 0.5% in September as the index for pork increased 1.6%. The index for other food at home increased 0.3% over the month and the index for dairy and related products rose 0.1%. 

The index for cereals and bakery products decreased 0.4% in September, the first decline in that index since June 2021. The fruits and vegetables index was unchanged over the month, as was the nonalcoholic beverages index.