Food prices rose again last month by 0.7%, according to the latest consumer price index, released yesterday. That may not sound like a lot, but it adds up. Over the past year, prices for groceries and other food prepared at home increased 2.6%.
Groceries have been on an upward trend all year, and these steady price increases may be the new reality. “We’re going to continue to see price increases, probably for the next two years or so,” said Phil Lempert, an analyst and food trends expert known as the Supermarket Guru.