By Catherine Douglas Moran
Source: Grocery Dive
For the rest of 2023, the White House Council of Economic Advisers (CEA) says it expects grocery inflation to continue to abate yet remain higher compared to pre-pandemic levels, per a blog post on Wednesday.
The post came ahead of next week’s release of the U.S. Bureau of Labor Statistics’ Consumer Price Index data for May and outlined five findings from the council, which provides empirical research for the White House.
On a three-month annualized basis, grocery inflation has been slowing down and was at -0.9% in April, compared to 1.5% in March. Inflation peaked last July, the post noted, at 15.7%. The CEA noted that it prefers to analyze longer time intervals because month-to-month inflation can be “noisy.”
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