Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

Inflation is easing. What does that mean for your grocery bill?

by July 13, 2023
July 13, 2023
Inflation is easing. What does that mean for your grocery bill?

As inflation continues to slow, shoppers are finally getting some relief at the grocery store.

Rising food prices have been among the biggest drivers of inflation since 2020, with a combination of labor shortages, supply chain snags and bird flu outbreaks sending grocery bills rapidly higher.

An NBC News analysis of Bureau of Labor Statistics data shows U.S. consumers are paying nearly 40% more for a basket of common grocery items — including eggs, chicken, milk and coffee — than they did before the World Health Organization declared Covid-19 a pandemic in early 2020.

A big part of the grocery price jump came from eggs, which were in short supply for much of the past year due to the worst outbreak of avian influenza on record.

More than 40 million egg-laying hens were culled from February 2022 to January, sending prices up more than 200%. While egg prices are still more elevated than many other grocery items, the problem has improved considerably this year.

Chicken breasts, by contrast, saw much more modest increases. Poultry birds are typically kept separate from egg hens and are slaughtered much sooner after hatching, leaving less time for diseases to spread.

The sharp rise in grocery prices over the last few years has sometimes challenged the conventional wisdom that it’s cheaper to eat meals at home than out at restaurants. While the prices consumers actually pay depend on where they choose to shop and dine out, BLS data shows prices for food at home rose faster than food away from home for most of 2022.

Even so, food away from home is still up more steeply, rising 7.7% since June 2022 versus 4.7% for food at home over that period, the latest data show.

Food inflation is still running hotter than the overall inflation rate. The BLS’s food index was up 5.7% last month from the same time last year — steeper than the national inflation rate of 3%.

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Top 3 Pitallfs YOU Probably Make When Trading
next post
Osisko Metals Announces Closing of LIFE Financing of Flow-Through Shares for Gross Proceeds of $3.5 Million

Related Posts

OpenAI considering 16 states for data center campuses...

February 8, 2025

Trump’s massive 46% Vietnam tariffs could hit Nike,...

April 3, 2025

Cava revenue beats estimates as Mediterranean chain reports...

May 17, 2025

Fitch downgrades U.S. credit rating from top score...

August 2, 2023

Convenience stores are eating fast-food chains’ breakfast

September 15, 2025

Boeing, NASA say Starliner astronaut launch will move...

May 26, 2024

How Volvo landed a cheap Chinese EV on...

April 26, 2024

CNN CEO Chris Licht apologizes to staff during...

June 12, 2023

Golf’s PGA Tour and LIV merger is the...

June 12, 2023

Food insecurity worsened after pandemic SNAP aid expired,...

June 27, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

    • Angkor Resources: Unlocking Cambodia’s Resource Potential through Energy and Minerals Assets

    • Alice Queen raises $1M via issue of Convertible Notes

    • Sranan Gold Intersects 11.5 Metres Grading 3.64 Grams per Tonne Gold in Saprolite from Initial Drill Hole at Randy’s Pit at the Tapanahony Project in Suriname

    • Homerun Resources Inc. Announces Updated Offtake Agreement with Brasil Fotovoltaico for the Supply of High-Quality Solar Glass

    • Heritage Mining Confirms New Gold Mineralization at the Scattergood Project

    Categories

    • Business (1,373)
    • Investing (2,905)
    • Politics (3,699)
    • Stocks (1,791)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved