INDIANA – Grocery price increases in the United States slowed down in August, up just 0.2% for the month. That’s an improvement from July, when grocery prices were up 0.3%, according to the latest Consumer Price Index, released Wednesday. For the year, grocery prices are up a modest 3%. This time last year, prices were up 13.5% compared to 2021.
But just how much inflation relief you got at grocery stores last month depends on what was in your shopping cart.
Bacon prices jumped by 4% last month, the biggest monthly increase since June 2020. Prices have since come down by about $1 a pound. Overall pork prices also increased by 2% last month. But despite the August increase, consumers are still paying less for bacon than they did last year, with prices down 6.4% on an annual basis.
Shoppers paid 3.2% more for salad dressing, 2.8% more for shelf-stable fish and seafood, and 2.4% for uncooked beef steaks.
Prices for food sold in stores are up 3% year over year, but the biggest increases are in the frozen foods aisle. Frozen juices and drinks are up 20.4% compared to a year ago. It’s the biggest annual price increase across all food sold. Frozen vegetables are up 14.7% for the year, the second-biggest annual increase for that category. These price hikes may have to do with the record heat experienced globally this summer.
Eggs continued to get cheaper. Last month their price fell by 2.5%. Prices are down by 18.2% compared to last year, when the deadly avian flu wiped out a significant number of egg-laying hens, reducing egg supplies. On top of that, farmers had to deal with inflated feed and fuel costs.
On a monthly basis, hot dog prices fell by 3.1%, prepared salad fell by 2% and butter fell by 1.8%.
