USDA ERS - Summary Findings

Food Price Outlook, 2024 and 2025This page summarizes the July 2024 forecasts, which incorporate the June 2024 Consumer Price Index and Producer Price Index numbers.See the Overview page for Consumer Price Index and Producer Price Index datasets.Consumer Price Index for Food (not seasonally adjusted)The all-items Consumer Price Index (CPI), a measure of economy-wide inflation, was unchanged from May 2024 to June 2024 and was up 3.0 percent from June 2023. The CPI for all food increased 0.2 percent from May 2024 to June 2024, and food prices were 2.2 percent higher than in June 2023.The level of food price inflation varies depending on whether the food was purchased for consumption at home or away from home:The food-at-home (grocery store or supermarket food purchases) CPI was unchanged from May 2024 to June 2024 and was 1.1 percent higher than June 2023; andThe food-away-from-home (restaurant purchases) CPI increased 0.4 percent in June 2024 and was 4.1 percent higher than June 2023.Fo...