Recent food price inflation in line with overall inflation

Recent food price inflation in line with overall inflation

From 2013 to 2017, the Consumer Price Index (CPI) for all food (grocery store and restaurant food) rose by 5.5 percent. This increase was relatively in line with the 5.2-percent rise in the all-items CPI, indicating that food prices were rising only moderately faster than prices for consumer goods and services as a whole. Over the last couple years, rising restaurant prices have contributed to food price inflation outpacing prices for recreation, education and communication, apparel, and transportation. Apparel and transportation prices actually declined from 2013 to 2017. Medical care and housing were the only two major consumer spending categories whose prices rose faster than food prices during this time period. Food-price inflation outpacing economy-wide inflation is not a recent phenomenon. Over the last decade, food-price inflation averaged 2.1 percent per year and overall inflation averaged 1.7 percent per year. Price inflation for food at home, however, averaged 1.8 percent per year during 2013-17, in line with economy-wide inflation. This chart appears in ERS’s data product, Ag and Food Statistics: Charting the Essentials.


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Last updated: Thursday, May 17, 2018

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