Zincwarrior
Diamond Member
Grocery inflation highest since 2022 as Tariff impacts pile up. Coffee is up nearly 20% year over year.
Data: Bureau of Labor Statistics; Chart: Axios Visuals
President Trump spent his 2024 campaign promising Americans he'd lower grocery prices.
Data: Bureau of Labor Statistics; Chart: Axios Visuals
President Trump spent his 2024 campaign promising Americans he'd lower grocery prices.
- Virtually all major grocery categories are now more expensive than they were a year ago, some substantially so.
- Whatever growth the administration says is coming from its trade and industrial policy, nothing is more vivid to households than what they pay to feed themselves.
- This was the biggest month-over-month increase since August 2022, the tail end of a year of huge monthly increases in grocery prices.
- But those same trade barriers can raise input costs — from fertilizer to machinery to transportation — that ripple through food prices.
- Grocery chains, already facing higher wholesale costs, say they are trying to avoid passing the increases along to shoppers where possible.
- Kroger CFO David Kennerley said Thursday that the chain's approach is to "raise prices as a last resort, to ensure that we keep prices as low as possible."
- Interim CEO Ron Sargent said they've lowered prices on more than 3,500 products across stores, which is "improving our price spreads against our major competitors."
- Coffee is up 20.9% year-over-year, with a 3.1% monthly increase, per CPI.
- Uncooked beef steaks are up 16.6% year-over-year with a 3.3% monthly bump.
- While fruits and vegetable overall were up 2.3% year over year, apples rose 9.6% and bananas, 6.6%.