Retail price changes for most food categories were small in 2017
With the exception of eggs, 2017 was a year of relative stability for grocery store prices. Lower agricultural commodity prices and a relatively strong U.S. dollar (which can make imported foods less expensive) contributed to smaller than average price increases and, for some foods, price decreases. The largest increase was for fish and seafood prices, which rose 1.2 percent—still well below the category’s 20-year historical average of 2.5 percent per year. Beef and veal prices fell 1.2 percent, cereals and bakery products were down 0.5 percent, and retail prices for sugars and sweets and fresh vegetables both fell by 0.1 percent in 2017. The food category with the largest price change in 2017 was eggs—a category prone to yearly price swings. Retail egg prices fell 9.5 percent in 2017, as egg production continued to recover from lows in 2015 due to the Highly Pathogenic Avian Influenza. Eggs account for 1.3 percent of food-at-home spending, so their large price swings have muted effects on overall grocery store inflation. This chart appears in an ERS data visualization, Food Price Environment: Interactive Visualization, released February 2018.
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