Food inflation continued to moderate in May compared to a year ago, providing good news for consumers struggling at the grocery store.
Year-on-year, food prices rose 2.1% in May, down from a 2.2% increase in April.
Overall food prices increased 0.1% from the previous month, a slight increase from April, when food prices were flat. Food prices were flat in May after falling 0.2% in April. Spending on eating out increased 0.4% after rising 0.3% in April.
Fruit and vegetable prices were stable for the month after falling 0.8% in April, while meat, poultry and fish prices rose 0.3% after falling 0.1% in April.
Egg prices, which began rising sharply in 2022 and have since fluctuated, fell 0.4% over the month. Egg prices fell 7.3% in April and rose 4.6% in March.
Economists expect food price increases to slow in the coming months. Still, some consumers say they're struggling to pay their high grocery bills. While food price increases have slowed, prices remain significantly higher than they were a few years ago.
Ronica Wheeler, who lives with her mother and three children in Washington, D.C., said the roughly $150 she spends on groceries each week covers less than it did a few years ago. Wheeler, 41, said that as a result, she's had to pare back on “basic necessities” and shop more at discounters like Aldi. She's also cut back on healthier foods, like fresh vegetables and fruits, for her family.
“We're spending a lot more money to get the same amount of food as before,” Wheeler said. “I want my kids to eat fresh fruits and vegetables, but I can't go bankrupt because then I won't have food next week.”