Food Prices Increase Again in July

Food prices rose again in July, according to the latest Consumer Price Index. The food index increased 0.7% in July as five of the major grocery store food group indexes rose, and the food away from home index increased 0.8%. The index for food at home also rose 0.7%, as the index for meats, poultry, fish, and eggs continued to increase. The index for cereals and bakery products, which declined in June, rose 1.2% in July, its largest one-month increase since April 2020. The index for other food at home rose 0.8% in July, also the largest monthly increase since April 2020.

The index for nonalcoholic beverages rose 0.7% in July, and the index for dairy and related products advanced 0.6%. The index for fruits and vegetables was the only major grocery store food group index to fall in July, declining 0.9% after rising 0.7% in June. The index for fresh fruits fell 1.8% over the month.

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