Food price inflation in the US dropped to 2.2% in February 2024, the lowest since May 2021, down from 2.6% in the prior month. Prices continued to slow down for food at home (1% vs 1.2% in January) and food away from home (4.5% vs 5.1%). Monthly, food prices were flat in February, after increasing by 0.4% in each of the previous two months. source: U.S. Bureau of Labor Statistics
Cost of food in the United States increased 2.20 percent in February of 2024 over the same month in the previous year. Food Inflation in the United States averaged 3.48 percent from 1914 until 2024, reaching an all time high of 36.70 percent in May of 1917 and a record low of -34.30 percent in June of 1921. This page provides the latest reported value for - United States Food Inflation - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Food Inflation - values, historical data and charts - was last updated on March of 2024.
Cost of food in the United States increased 2.20 percent in February of 2024 over the same month in the previous year. Food Inflation in the United States is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Food Inflation is projected to trend around 3.40 percent in 2025, according to our econometric models.