Inflation Is Slowing – Except for Food

Dec. 14, 2022
Prices for food went up last month five times as fast as for goods and services in general.

Food prices are remaining stubbornly high even as inflation is at least slowing down for other goods and services, according to the latest government figures.

The Consumer Price Index increased only 0.1% overall in November, but food prices went up 0.5%. The 12-month rise was 7.1% overall; for food alone, it was 10.6%.

“The headline inflation numbers are encouraging for the general economy, but consumers are not being relieved at the grocery store,” a Michigan State agricultural economics professor said in remarks reported in the Idaho Capital-Sun.

Individual food categories are spiking even higher, with producer egg prices rising 266% year-over-year in October, and vegetables going up 80% year-over-year in November. Grocery prices are remaining high even though prices for some basic food commodities, like wheat and sugar, are coming back down. Factors include the continuing war in Ukraine and high costs of other expenses, including labor and energy.

About the Author

Pan Demetrakakes | Senior Editor

Pan has written about the food and beverage industry for more than 25 years. His areas of coverage have included formulations, processing, packaging, marketing and retailing. Pan worked for Food Processing Magazine for six years in the 1990s, where he was operations editor (his current role), touring dozens of food plants of every description. He has also worked for Packaging and Food & Beverage Packaging magazines, the latter as chief editor, during which he won three ASBPE awards. He is a graduate of Stanford University with a BA in communications.

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