Consumer Price Index: Food Prices Higher Again in October

The Consumer Price Index increased 0.9% in October on a seasonally adjusted basis after rising 0.4% in September, the Bureau of Labor Statistics reported Wednesday. Over the last 12 months, the all-items index increased 6.2%, the largest 12-month increase since November 1990. The food index increased 0.9% in October, the same increase as in September. The food at home index increased 1.0% over the month as all six major grocery store food group indexes continued to rise. The index for meats, poultry, fish, and eggs continued to rise sharply, increasing 1.7% following a 2.2-percent increase in September. The index for beef rose 3.1% in October.

The index for other food at home rose 1.2%, its largest monthly increase since April 2020. The index for cereals and bakery products rose one percent, while the index for dairy rose 0.2%, and the index for fruits and vegetables advanced 0.1%.

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