Domestic food CPI reported up 0.7% in October, up 11% YOY
In its October Consumer Price Index (CPI) reporting, ERS calculated that the price to consumers for all food rose 0.7 percent in September. YOY, the food CPI was reported up nearly 11 percent YOY.
Of note is the growth in prices of food away from home in the last few months, which had previously lagged the price growth of food at home this year. Foot at home is still up about 12 percent YOY vs. growth of nearly 9 percent YOY for food away from home.
By far, eggs saw the largest CPI growth, up 10 percent in October. While the YOY of 43 percent is impressive, eggs account for only 1 percent of the entire food CPI.
Other categories have larger weights in the overall CPI, such as meats (8.1 percent of the food CPI), fruits and vegetables (10.4 percent), cereals and bakery (8.1 percent), nonalcoholic beverages (7.1 percent), other foods (12.6 percent), and dairy (5.9 percent). Among these, the categories with the largest YOY gains include cereal and bakery, nonalcoholic beverages, other foods, and fruits and beverages.
Consumer Price Index, food prices
Posted by: Information Services Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.