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In March, meals at restaurants and bars cost 4.2% more than a year ago, though it's the smallest 12-month change since June 2021, per BLS economist Steve Reed. Prices are up 0.3% compared to February.
So while the latest 2.2% annual food inflation rate for March 2024 seems more manageable, it doesn’t negate the cumulative 25.8% increase in grocery prices since that November 2020 election.
The year-over-year change in grocery prices is the lowest since June 2021, matching trends seen pre-pandemic, he said. ... Beef and veal, up 4.2%, did see their smallest increase since June 2023 ...
Annual inflation increased to 8.3% in August 2022, in part due to rising grocery prices. [154] In September, the Fed increased the interest for a fifth time in the year reaching a 14-year high. [155] In November 2022, the year-over-year inflation rate was 7.1%, the lowest it has been since December 2021 but still much higher than average. [156]
Grocery price inflation has come a long way since hitting 13.5% in the summer of 2022, but January saw a notable jump with prices up 1.9% from the same month last year, up from 1.2% in January 2024.
In simple math, that means a $4 carton of eggs in 2021 would now cost $4.48 — or, more dramatically, a weekly $200 grocery bill in 2021 would be $224 in 2022. That’s a cost increase of $96 per ...
Cooking oil prices have risen, with a particular brand at a Santiago supermarket experiencing a 90% price increase from April 2021 to April 2022. [104] The inflation in food prices is thought to be behind an increasing number of supermarket credit cards issued in 2022 as well as increasing rates of supermarket credit card debt default. [104]
The annual rate of grocery price inflation is the highest since this time last year; however, it’s a far cry from 2022 when it averaged 11.4% and peaked at 13.5% — well above overall inflation ...