The all-items Consumer Price Index (CPI), a measure of economy-wide inflation, was unchanged from September 2023 to October 2023 and was up 3.2 percent from October 2022. The CPI for all food increased 0.3 percent from September 2023 to October 2023, and food prices were 3.3 percent higher than in October 2022.
The level of food price inflation varies depending on whether the food was purchased for consumption at home or away from home.
Prices increased 0.9 percent for fresh fruits from September to October 2023, only partially due to seasonal factors, while fresh vegetable prices decreased 0.6 percent in October 2023, unrelated to seasonal factors.
Prices for fresh fruits and vegetables are predicted to continue their slow growth relative to other categories from 2022. Prices for fresh fruits are predicted to increase 0.5 percent in 2023, with a prediction interval of -0.1 to 1.2 percent. Fresh vegetables prices are predicted to increase 0.9 percent in 2023, with a prediction interval of 0.3 to 1.6 percent.
Source: ers.usda.gov