Consumer food prices in the U.S. were unchanged in July, thanks largely to declining meat costs. The Labor Department reports the consumer price index for meats, poultry, fish and eggs purchased at the grocery store dropped 0.6 percent last month, following a 0.7 percent decrease in June. Over the previous 12 months, meat, poultry, fish and egg prices together have fallen 5.6 percent. The decline has contributed to a decrease of 1.6 percent in the index for all food consumed at home over that time span, according to Meatingplace. In July, the index for food at home fell 0.2 percent, its seventh decline in the past nine months. Prices for dairy, cereal and bakery products fell last month, while fruits, vegetables and nonalcoholic beverages turned higher.
From the National Association of Farm Broadcasting news service.
From: Bureau of Labor Statistics, Department of Labor
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in July on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 0.8 percent before seasonal adjustment.
The energy index declined in July and the food index was unchanged. The index for all items less food and energy rose, but posted its smallest increase since March. As a result, the all items index was unchanged after rising in each of the 4 previous months.
The energy index fell 1.6 percent after rising in each of the last four months. The decline was due to a sharp decrease in the gasoline index; other energy indexes were mixed. The food at home index declined 0.2 percent as four of the six major grocery store food group indexes decreased, while the index for food away from home rose 0.2 percent.
The index for all items less food and energy increased 0.1 percent in July after rising 0.2 percent in June. The shelter index rose 0.2 percent, its smallest increase since March, and the indexes for medical care, new vehicles, and motor vehicle insurance also rose. In contrast, the indexes for airline fares, used cars and trucks, communication, and recreation were among those that declined in July.
The all items index rose 0.8 percent for the 12 months ending July, a smaller increase than the 1.0 percent rise for the 12 months ending June. Similarly, the index for all items less food and energy rose 2.2 percent for the 12 months ending July, a smaller increase than the 2.3 percent rise for the 12 months ending June.
Read the full Consumer Price Index-July 2016 with all charts. (.pdf)