Grocery prices jumped 1.2% last month as food inflation returns to pre-pandemic levels

Grocery prices saw a 1.2% increase last month, signaling a return to pre-pandemic inflation levels. The U.S. Bureau of Labor Statistics reported mixed fluctuations in grocery store prices, with some categories experiencing increases and others seeing declines. Notably, items like butter and flour saw significant monthly price jumps.

Overall food inflation remained steady month-over-month but increased 2.2% year-over-year. Specific sectors like frozen juices recorded historic rises, challenging the industry. Despite these fluctuations, experts like Wells Fargo's chief agricultural economist anticipate food inflation will stabilize, aligning with wage growth targets around 2%.