Food Prices Creep Higher in February

03:34PM Mar 24, 2017
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The Consumer Price Index (CPI) for all food climbed 0.2% from January to February and food prices are steady with year-ago levels, according to USDA's Economic Research Service (ERS).

It goes on to detail that while the CPI for food-away-from-home (restaurant buys) was up 0.2% in February and it stands 2.4% above February 2016 levels. On the other hand, the food-at-home (grocery store) CPI climbed 0.2 last month and it is down 1.7% from February 2016.

ERS still expects supermarket prices to hold steady or climb 1% this year. "Despite declining prices in 2016, poultry, fish and seafood, and dairy prices are expected to rise in 2017," ERS explains. This is well below the 20-year historical average increase of 2.6% each year.

March 2017 CPI