what got cheaper and what got more expensive at grocery stores.
Prices for groceries in the United States increased by just 0.2% in August. According to Wednesday’s Consumer Price Index, grocery prices rose 0.3% in July. Grocery prices are up 3% for the year. As of this time last year, prices had increased 13.5% from 2021.
Inflation relief at grocery stores last month depends on what you bought.
The price of bacon increased by 4% last month, the biggest monthly increase since June 2020. According to the US Department of Agriculture, wholesale pork belly prices hit a near-record high of $2.37 a pound last month, a near-record high. Since then, prices have decreased by about $1 per pound.
Last month, pork prices also increased by 2%.
In August, prices jumped due to a California animal-welfare law. According to a recent report by Bank of America analysts, pigs must have at least 24 square feet of space in their enclosures to be allowed to sell their meat in the state. Following a Supreme Court ruling, that law went into effect in July.
Last month, pork wasn’t the only food that went up in price. There was a 3.2% increase in salad dressing, a 2.8% increase in shelf-stable fish and seafood, and a 2.4% increase in uncooked beef steaks.
Food prices are up 3% year over year, but frozen foods have seen the biggest increases.
The sales of frozen juices and drinks are up 20.4% from a year ago. The CPI tracks the biggest annual price increase across all food sold in stores. A 14.7% increase in frozen vegetables for the year is the second-highest in that category. There may be a connection between these price increases and this summer’s record heat.
Hot dogs prices fell by 3.1%, prepared salads by 2%, and butter by 1.8% on a monthly basis.