Food Inflation Slows in December, but Still Up 10 Percent Over Last Year

U.S. food prices increased 0.3% in December, a drop from 0.5% in November, but are still 10.4% higher than a year ago at the same time.

The latest Consumer Price Index report showed three of the six major grocery store food group indexes increased over the month. Meats, poultry and fish increased 1%, with an 11.1% increase in the price of eggs, the supply of which was curtailed by an avian influenza outbreak in 2022.

Prices for nonalcoholic beverages rose 0.1% and prices for other foods rose 0.4%. Fruits and vegetables fell 0.6% in December, with fresh fruit declining 1.9%; dairy and related products decreased 0.3%; and the price for cereals and bakery products was unchanged.

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