From this morning's CPI release:
....Food
The food index increased 1.0 percent in February as the food at home index increased 1.4 percent over the month. All six major grocery store food group indexes increased in February. The index for fruits and vegetables had the largest increase, rising 2.3 percent, its largest monthly increase since March 2010. The index for fresh fruits increased 3.7 percent over the month, and the index for fresh vegetables rose 1.3 percent. The index for dairy and related products rose 1.9 percent, its largest monthly increase since April 2011. The index for nonalcoholic beverages increased 1.6 percent in February.
The index for meats, poultry, fish, and eggs increased 1.2 percent in February as all of its major component indexes increased. The index for cereals and bakery products rose 1.1 percent and the index for other food at home increased 0.8 percent over the month.
The food away from home index rose 0.4 percent in February after increasing 0.7 percent in January. The index for full service meals rose 0.6 percent and the index for limited service meals increased 0.3 percent.
The food at home index rose 8.6 percent over the last 12 months, the largest 12-month increase since the period ending April 1981. The index for meats, poultry, fish, and eggs increased 13.0 percent over the last year as the index for beef rose 16.2 percent. The other major grocery store food group indexes also rose over the past year, with increases ranging from 5.2 percent (dairy and related products) to 8.2 percent (other food at home).
The index for food away from home rose 6.8 percent over the last year, the largest 12-month increase since December 1981. The index for limited service meals rose 8.0 percent over the last 12 months, and the index for full service meals rose 7.5 percent. The index for food at employee sites and schools, in contrast, declined 40.7 percent over the past 12 months, reflecting widespread free lunch programs.....
Keeping in mind: "Reminder: "St. Louis Fed: Food Prices As An Indicator Of Future Inflation""
As the retail guys say: "And Mr. Bigg, if you annualize that monthly 1.4% increase for food-at-home, that's over 16% per year!"
