Food prices have increased every month of 2022, with each month since
February breaking 40-year records, according to data from the Bureau of
Labor Statistics (BLS).
The price of food at home increased 13.5% year-over-year in August, the
highest it’s been since May 1979, according to the BLS Consumer Price
Index (CPI) report. Since February, when the year-over-year cost of food
at home increased by 8.6% — at the time the highest level since 1981 —
grocery prices have increased every month, first breaking a 10% year-on-
year increase in March, according to archived CPI reports by the BLS.
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The rate of increase blows away the increases over the past two years,
with food at home prices increasing 3.5% in 2020 and 2021, according to
the U.S. Department of Agriculture (USDA). The increases are also well
above the USDA’s Aug. 25 estimate of a year-on-year food at home price
increase between 10% and 11% in 2022.