Data reported by BLS shows that food inflation was 1.1 percent in July, with the Consumer Price Index (CPI) for food now up 10.9 percent YOY. The major contributor has been the price of food at home, up 13.1 percent YOY; food away from home has appreciated less, up just 7.6 percent YOY.
For food from home, the key categories driving appreciation—based on weighted value—cereal and bakery, nonalcoholic beverages, other foods, fats and oils, and dairy products.
A few categories saw minor declines in July: fresh fruit, beef and veal, and fish and seafood in July.
Year on year, most major food categories are still showing double-digit growth, lead by fats and oil, other foods, and cereal and bakery. Eggs have shown the highest YOY growth, but this category is weighted at 0.9 percent of the entire food CPI.
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