USDA Reports Consumer Prices Steady
WASHINGTON, D.C. (WJON News) - The U.S. Department of Agriculture has released this month’s Consumer Price Index.
The headline from this month’s report is the price for all goods and services, averaged together, stayed steady from September to October.
USDA Economist Megan Sweitzer says price inflation has cooled over the past few months.
The food prices increased by point 3% In October and were 3.3% higher than this time last year. And food at home prices. The grocery prices also rose by point 3% in October and food at home prices were 2.1% higher than this time last year.
The grocery increases are less than expected and below the 20-year average. In addition, Sweitzer says the price of bread and bakery products are stabilizing.
There was no change in the prices of cereals and bakery products in October and prices in that category seem to be stabilizing over the past six months. Prices for cereals and bakery products are at 4.2% from last October, with most of that growth coming at the end of last year and early this year.
Leading the march downward:
- Eggs are 22% lower than a year ago,
- Fresh vegetables fell 2%,
- Dairy is off 1%.
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