ERS estimates inflation for selected food price indexes in the U.S. was 1.0 percent in April vs. March, with inflation for food at home at 1.3 percent that month.

Eggs saw double-digit inflation, up 10.3 percent from March and up 22.6 percent YOY. Dairy pricing was up 2.4 percent MOM and 9.1 percent YOY.

For the calendar year to date, average pricing has appreciated most for eggs, fats and oils, meats, and cereal and bakery.


Source: ERS, BLS

Other notes on inflation:

  • OECD: CPI was up 9.2 percent YOY in April vs. March’s YOY gain of 8.8 percent. OECD food pricing was up 11.5 percent in April vs. 10.0 percent in March. OECD nations with the highest food CPI increases YOY included Turkey (up 89.1 percent), Colombia (up 26.2 percent), Lithuania (up 21.7 percent), Latvia (up 17.4 percent), and Hungary (up 16.2 percent).
  • China: The April CPI was up 2.1 percent YOY, attributed largely to higher food prices.
  • Latin America: ECLAC reported food and beverage price inflation in March at 23.5 percent for Colombia, 12.1 percent for Mexico, 12.0 percent for Chile, and 11.6 percent for Brazil. Brazil’s March inflation was actually below the 2021 average of 12.4 percent, unlike most other highlighted Latin American countries.
  • Russia: April inflation was reported at 17.8 percent YOY, though monthly inflation was just 1.6 percent vs. 7.6 percent inflation in March.

Consumer Price Index: Food price growth

Source: BLS, ERS USDA, McKeany-Flavell
Posted by: Information Services
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