Consumer Price Index: Food Prices Higher Again in October
The Consumer Price Index increased 0.9 percent in October on a seasonally adjusted basis after rising 0.4 percent in September, the Bureau of Labor Statistics reported Wednesday.
Over the last 12 months, the all-items index increased 6.2 percent, the largest 12-month increase since November 1990.
The food index increased 0.9 percent in October, the same increase as in September.
The food at home index increased 1.0 percent 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 percent following a 2.2-percent increase in September.
The index for beef rose 3.1 percent in October. The index for other food at home rose 1.2 percent, 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 percent, and the index for fruits and vegetables advanced 0.1 percent.
(Story Courtesy of NAFB News Service)