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Food Prices Decline for Another Month, With Biggest drop in Dairy: April CPI Report

Food Industry Executive 2023-05-11
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Tag: CPI Report

Food prices were unchanged during the month of April, according to the most recent nclick="javascript:window.open('https://www.bls.gov/news.release/cpi.nr0.htm', '_blank', 'noopener'); return false;">CPI report. This marks the second consecutive month of no change.

Food at home

The food at home index decreased for the second month in a row, falling 0.2% in April after March’s 0.3% decrease. Four of the six major grocery store food groups saw a decrease during the month. The index for dairy and related products decreased the most at 0.7%, with milk experiencing its largest decrease since February 2015 (-2.0%). 

Price changes for the other major grocery store groups included:

  • Cereals and bakery products: +0.2% (+0.6% in March)
  • Other food at home: +0.2% (+0.4% in March)
  • Fruits and vegetables: -0.5% (-1.3% in March)
  • Nonalcoholic beverages: -0.1% (+0.2% in March)
  • Meats, poultry, fish, and eggs: -0.3% (-1.4% in March)

Over the past 12 months, the food at home index went up 7.1%. Cereals and bakery products had the largest increase during this time period (+12.4%), while the other grocery store food group increases were anywher from 2.0% (fruits and vegetables) to 10.4% (other food at home).

Food away from home

The food away from home index rose 0.4% in April, following a 0.6% increase in March. The index for limited service meals increased 0.6%, and the index for full service meals rose 0.1%.

The index for food away from home increased 8.6% during the past 12 months. The index for limited service meals rose 8.2%, and the index for full service meals increased 7.2% over the period.

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