CPI Report Shows Food Prices Rose Sharply in December
The New York Times • • general
Key Points:
- Food prices rose sharply by 0.7 percent in December, marking the largest monthly increase since October 2022, with a 3.1 percent rise compared to a year earlier.
- Price increases were seen in fruits and vegetables (0.5%), coffee (1.9%), cereal and bakery products (0.6%), and beef and veal (1%), with beef prices up 16.4% year-over-year due to a declining cattle herd.
- Egg prices fell 8.2 percent in December, continuing a decline after record highs caused by a bird flu outbreak that impacted poultry farms.
- Despite recent moderate food inflation compared to 2022, consumers continue to face elevated grocery costs, a concern highlighted
