“Really seeing a slowing": Food Price Inflation Goes Negative
This week’s Consumer Price Index showed grocery store prices dropping from May to June, and food-at-home prices down in two of the last four months.
USDA economist, Megan Sweitzer shares her outlook on food inflation for the year.
“We’re really starting to see prices come down across categories across food economy with that all items CPI down to 3%. We’re just really seeing it flowing in both food and non-food categories across the economy here as we come out of that period of really high growth in the first 6-7 months of last year,” she explains.
This month’s CPI shows eggs, pork, and seafood costing less than last year.