Food Prices Drop Two Months In A Row

The price we pay for food at the local grocery store dropped in June.  The USDA’s Food Price analyst Annemarie Kuhns said prices dropped 0.1%.

“This is the second month in a row that we’ve seen a decline at the grocery store.  In May it decreased 0.4%”

Kuhn said consumers saw prices drop for pork, fats and oils, eggs, fresh fruits, fresh vegetables.  Those decreases were more than enough to offset any prices increases we may have seen.  Kuhns said even though we’ve seen back to back months of grocery price declines, “That still leaves us 0.4% higher than it was in June 2017.  And looking at where prices have gone as far as this year, so far in 2018 compared to 2017, prices are also up 0.4%.”

During much of the year, Kuhns has forecast that we’d see prices increase 0.5%-1.5% for the entire year.  However, Kuhns is going to release an updated food price forecast on Wednesday, so things could change.

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