Food price inflation over 2016–2020 equal to economy-wide inflation
From 2016 to 2020, the all-food CPI rose 7.8 percent—the same as the all-items CPI. Food price increases were below the 11.9-percent rise in medical care costs and the 11.4-percent increase in housing costs. Retail pricing strategies, efficient food supply chains, slow wage growth, and relatively low oil prices tempered food price inflation from 2016–2019; however, 2020 was a year of high food price inflation due to shifts in consumption patterns and supply chain disruptions resulting from the coronavirus pandemic.
Download higher resolution chart (4267 pixels by 3601, 300 dpi)