At-home consumer food prices rose 1.3% in May, up 11.9% YOY
ERS published data on Consumer Price Indexes (CPI) for food this Friday, unsurprisingly showing higher prices in May across all food categories in the U.S. As a result, the composite food CPI was estimated up 1.1 percent from April 2022 and up 10.1 percent YOY.
In May, the price of food at home was estimated up 11.9 percent YOY, above YOY appreciation of 7.4 percent for food away from home.
Month on month, the categories showing the highest inflation included: eggs, up 5.0 percent from April; dairy products, up 2.6 percent; and fats and oils, up 2.4 percent. Year on year, nearly all categories are showing double-digit growth: The from-home category with the lowest growth was fresh fruits and vegetables, still up an impressive 7.6 percent YOY.
For January through May 2022, categories with the highest price growth included: eggs, up 16.2 percent YOY; fats and oils, up 10.9 percent YOY; other foods, up 8.0 percent YOY; and cereals and bakery products, up 7.6 percent YOY.
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