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☆ Morning Bid: Fed vigil sees oil recoil and UK surprise
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +4 min

Canada's consumer prices raced ahead at an unexpectedly brisk clip last month, but outlier Britain got a positive surprise as inflation there fell back in August. Starts swooned last month, but building permits - which many see as a better gauge of future activity - beat forecasts and pushed higher. Although Asia bourses were in the red earlier, European stocks pushed higher and Wall St futures were positive ahead of the open too. Relief in the oil market pulled two-year Treasury yields back about 5 basis points from two-month highs at 5.12%. Key developments that should provide more direction to U.S. markets later on Wednesday:* U.S. Federal Reserve policy decision, new economic projections and press conference.

Persons: Mike Dolan, Asia bourses, Mills, Toby Chopra Organizations: Federal Reserve, People's Bank of China, Bank of England, Fed, Friday's Bank of Japan, Arm Holdings, U.S, New, . Federal, Bank of Canada, FedEx, United Nations General Assembly, Reuters Graphics Reuters, Reuters, Reuters Graphics Housing, Thomson Locations: U.S, Asia, Europe, New York City, New York

☆ As Instacart goes public, it's no victory lap for founder Apoorva Mehta
▼ + stars: | 2023-09-19 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +10 min

Mehta was replaced as CEO of Instacart in July 2021 following a messy dispute with some of the company's largest investors. Instacart Founder Apoorva Mehta in his 2003 yearbook photo from Westdale Secondary School. The app started gaining momentum and Mehta put out ads on Craigslist for shoppers to do the grocery runs for him. Whole Foods reportedly broke the news to Mehta and a fellow Instacart executive on an early morning call. In a sworn affidavit, Mehta denies that he misappropriated any trade secrets and says he's since cut ties with Singh.

Persons: Apoorva Mehta, Mehta, Safeway Mehta, Hamilton Public Library Mehta, Bing Gordon, Kleiner Perkins, Gordon, he'd, Garry Tan, Tan, Garry, Andreessen Horowitz, catapulting Mehta, Forbes, Instacart, Mike Moritz, Fidji Simo, Simo, That's, Mehta's, he's, Tejasvi, Singh, Sam Bankman, NextMed, it's Organizations: Instacart, Safeway, Westdale Secondary, Hamilton Public Library, The University of Waterloo, Amazon, NPR, Electronic Arts, YC, TechCrunch, Sequoia Capital, Khosla Ventures, Forbes, Foods, Costco, Kroger, Facebook, Sunrise Locations: India, Libya, Hamilton , Ontario, Toronto, Seattle, San Francisco, wallowing, Sequoia, Mehta's, Marin County

Sept 18 (Reuters) - Maplebear Inc , the parent of grocery delivery app Instacart, disclosed on Monday it fetched a $9.9 billion fully diluted valuation after pricing its initial public offering (IPO) at the top of its indicated range. The IPO was priced at $30 per share after the company marketed it with a range of $28 to $30 per share. The IPO raised $660 million based on 22 million shares sold. Arm's fully diluted valuation has risen to $62 billion following three days of its shares trading. These investors include Norges Bank Investment Management, a division of Norges Bank, and entities affiliated with venture capital firms TCV, Sequoia Capital, D1 Capital Partners and Valiant Capital Management.

Persons: Instacart, Echo Wang, Rosalba O'Brien, Jamie Freed Organizations: Inc, Nasdaq, U.S, Klaviyo Inc, Norges Bank Investment Management, Norges Bank, Sequoia Capital, D1 Capital Partners, Valiant Capital Management, Sequoia, D1, PepsiCo, CVS, Thomson Locations: TCV, Sequoia, New York

☆ Waitrose cuts more prices as Britain's food inflation picture improves
▼ + stars: | 2023-09-10 | by ( James Davey | ) www.reuters.com time to read: +2 min

UK food price inflation reached its highest since 1977 in March at over 19%. This official measure slowed to 14.9% in July and, while industry data showed it at 11.5% in August, rising food prices remain a major strain on the finances of many households. Monthly industry data has consistently shown Waitrose losing market share and underperforming rivals including industry leader Tesco (TSCO.L) and No. Earlier this month researcher Kantar said Waitrose had a UK grocery market share of 4.4%, down 0.2 percentage points year-on-year. While all British supermarkets have reduced the prices of some products in recent months, researcher the Institute of Grocery Distribution has said that UK food price inflation will still be around 9% in December.

Persons: Peter Cziborra, Kantar, Waitrose, James Davey, Emelia Sithole Organizations: Waitrose, REUTERS, Bank of England, John Lewis Partnership, Tesco, Aldi, Lidl, of Grocery, Retailers, Thomson Locations: Harpenden, Britain, India

The deal would give privately held C&S, primarily a supplier rather than an operator of grocery stores, a much more significant footprint. The stores that Kroger and Albertsons plan to shed are primarily in the Pacific Northwest and the Mountain states, along with some in California, Texas, Illinois, and the East Coast, the sources said. Bloomberg News reported about the talks between C&S, Kroger and Albertsons on Monday, as well as SoftBank's involvement but gave no information about the deal terms. Previously, Kroger and Albertsons said they may divest between 100 and 375 stores by placing them in a new company that Albertsons shareholders would own. In a regulatory filing Kroger said the upper limit for divestitures was 650 stores.

Persons: Rick Cohen, Cohen, SoftBank, Kroger, Ahold, Anirban Sen, Abigail Summerville, Juby Babu, Sherry Jacob, Phillips, Rashmi Aich, David Gregorio Our Organizations: Kroger, Albertsons Cos Inc, S Wholesale Grocers, Grand Union, Piggly, SoftBank Group Corp, Symbotic Inc, Albertsons, Bloomberg News, Thomson, & $ Locations: Pacific Northwest, California , Texas , Illinois, East Coast, New York, Bengaluru

High food prices are a concern for all European governments, with retailers and consumer goods groups trading blame. In Hungary, Prime Minister Viktor Orban has imposed mandatory price cuts on some basic food items. And in Portugal, the government announced in March a package to help low-income families, including scrapping the value added tax on essential food products. French retailers have called for more regular price negotiations with consumer goods companies to reflect changes in the price of raw materials. This year those negotiations led to a 10% increase on the price of products on supermarket shelves.

Persons: Eric Gaillard, Bruno Le Maire, Mousquetaires, Thierry Cotillard, It's, Carrefour Alexandre Bompard, Viktor Orban, Le Maire, Dominique Vidalon, Helen Reid, Silvia Aloisi, Ingrid Melander, Bernadette Baum, David Evans, David Gregorio Our Organizations: REUTERS, Rights, French Finance, Federation du Commerce, RTL, Carrefour, FDC, Thomson Locations: Nice, France, Italy, Hungary, Portugal, Paris, London

☆ Instacart files to go public on Nasdaq to try and unfreeze tech IPO market
▼ + stars: | 2023-08-25 | by ( Hayden Field | ) www.cnbc.com time to read: +6 min

Instacart, the grocery delivery company that slashed its valuation during last year's market slide, filed its paperwork to go public on Friday in what's poised to be the first significant venture-backed tech IPO since December 2021. In May, Instacart said it was leaning into the generative AI boom with Ask Instacart, a search tool that aims to answer customers' grocery shopping questions. Instacart will try and crack open the IPO market, which has been mostly closed since late 2021. In March of last year, Instacart slashed its valuation to $24 billion from $39 billion as public stocks sank. Apoorva Mehta, Instacart's founder and executive chairman, plans to transition off the board after the company's public market debut, according to a 2022 release.

Persons: Instacart, Fidji Simo, haven't, Japan's SoftBank, Uber, They've, Simo, Mark Zuckerberg, Apoorva Mehta, Barry McCarthy, Snowflake, Frank Slootman, Andreessen Horowitz's Jeff Jordan, Shipt, Goldman Sachs, Nick Giovanni Organizations: Nasdaq, PepsiCo, Maplebear Inc, Target, Walmart, Meta, Walmart Grocery, Google, Sequoia Capital, DJ Capital Partners, Norges Bank Investment Management, TCV, D1 Capital Partners, Valiant Capital Management Locations: what's

☆ A message to OpenAI's Sam Altman was an AI startup founder's last ditch effort to help save her company — and it worked
▼ + stars: | 2023-08-21 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +5 min

The AI startup was recently named by VCs as one of 2023's most promising startups. Thompson named her startup Milo, an acronym for "my important loved ones," and raised some early funding from the accelerator Y Combinator in 2020. "You never hear someone talk about the power of these models to help families," said Brad Lightcap, OpenAI's chief operating officer. On Milo, parents can send text messages of grocery lists, photos of permission slips or sign-up-sheets for school activities to the Milo chatbot. To date, Milo has raised an undisclosed amount of pre-seed and seed capital from Y Combinator, OpenAI, Magnify Ventures, Bronze Ventures, and several angel investors.

Persons: Milo, Avni Patel Thompson, Sam Altman, VCs, Thompson, Mary, Archa Jain, Brad Lightcap, Milo chatbot, Cleo, Sara Ittelson, I'm Organizations: Starbucks, Reebok, Accel, Bronze Ventures Locations: Y

☆ Walmart vs Target: When it comes to groceries it's not really a competition
▼ + stars: | 2023-08-17 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Walmart posted surprisingly strong sales growth in the last quarter, while Target reported a decline. As shoppers increasingly prioritize essentials, one in four US grocery dollars are spent at Walmart. When Walmart's grocery sales are combined with those of its subsidiary warehouse club Sam's Club, the total approaches a third of total US grocery spending. Target meanwhile accounts for 3% of grocery dollars, or about a tenth of Walmart Inc., per Numerator. Target sells those things too, of course, but if shoppers are already heading to Walmart for groceries, they may not want to make a second stop.

Persons: headwind, Walmart's, John David Rainey, Rainey, Target's, Sara Batchelder, Neil Saunders Organizations: Walmart, Target, Service, Costco, Walmart —, Kroger, Albertsons, Sam's Club, Walmart Inc, Target's Locations: Wall, Silicon

☆ Whole Foods is attracting extreme couponers who are sharing tips on TikTok for saving money at the supermarket once known as 'whole paycheck'
▼ + stars: | 2023-08-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Extreme couponers are posting tips on TikTok for saving money at Whole Foods. One user said she cut her bill from about $58 to less than $13 using discounts. While she saved a few dollars using a Prime membership, M_adisen saved $23.49 using discounts from Ibotta and another $18.71 from Aisle, another company that offers discounts on specific products. A video from user fitwithshelle highlights products that she purchased using discounts at Whole Foods, including vegan ice cream and a coconut smoothie. The cuts have primarily targeted often-purchased grocery items such as produce.

Persons: M_adisen, doonydoesstuff, they've, It's Organizations: Foods, Service, Amazon, Dollar, Walmart, kiwis, Austin, Wall Street Locations: Wall, Silicon

☆ Aldi is buying 400 Winn-Dixie and Harveys supermarkets
▼ + stars: | 2023-08-16 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +4 min

New York CNN —Grocery shoppers in the Southeast can expect to see more Aldi stores starting 2024. Some of the nearly 400 Winn-Dixie locations Aldi is acquiring will keep the familiar red-and-white Winn-Dixie branding and traditional store layout, but many will convert to Aldi’s brand and bare-bones store format. The acquisition – which includes Harveys Supermarket – will add locations across Alabama, Florida, Georgia, Louisiana and Mississippi to Aldi’s portfolio. Winn-Dixie and Harveys Supermarket had long been staples in the Southeast region. Aldi has not disclosed how many of the Winn-Dixie and Harveys stores it plans on converting, or how much the deal cost.

Persons: Winn, Jason Hart, Aldi, Dixie, Neil Saunders, ” Saunders, ” Hart, Kroger, it’s, Phil Lempert, Lampert, “ that’s, ” Lempert, “, ” Lampert, Saunders Organizations: New, New York CNN, Aldi, Winn, Dixie, Harveys, Southeastern Grocers, Fresco Retail, Albertsons, Publix, Sunshine State Locations: New York, Alabama , Florida, Georgia, Louisiana, Mississippi, Florida, United States, Southeast, “, Aldi, Winn, Sunshine

☆ Make these 9 top investments in a 'stock-picker's market' as economic growth continues, according to a bear-turned-bull whose hedge fund is up 155% in the last 5 years
▼ + stars: | 2023-08-12 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Standout hedge fund manager Charles Lemonides came into the year careful but is now more optimistic. Heading into 2023, hedge fund manager Charles Lemonides was preparing for the worst. His hedge fund is down 8% in 2023 through May, though it's still up 155% in the past five years. The hedge fund manager said the economy can take another rate hike or two, even though investors may groan about it. The hedge fund manager is currently bullish on energy stocks broadly — particularly those in the oil and gas industry.

Persons: Charles Lemonides, Lemonides, hasn't, it's, We've, he's, Goldman Sachs Organizations: Investors, Federal Reserve, Netflix, Energy, P Oil & Gas Exploration, Production, Unit Corp, United Natural Foods, Yale Materials, Foods Locations: financials

☆ Target will now let you add Starbucks to your curbside delivery order, but there's a catch — you have to buy something from Target
▼ + stars: | 2023-08-09 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Target is rolling out an option that lets customers nationwide order Starbucks food and beverages for curbside delivery. Unlike a regular drive-thru, Starbucks customers will have to pair their order with a Target product purchase. The purchase requirement appears to be designed to keep Starbucks order volumes under control and could boost sales. The Target app will prompt drive-up customers to add a Starbucks item to their order and to customize it. TargetHere are the states where Starbucks ordering is currently available via Target drive-up:(* indicates select stores)

Persons: We've, who've, Mark Schindele Organizations: Service, Pumpkin, Starbucks Locations: Wall, Silicon, Wisconsin

☆ Want to work in tech? Don't work in tech.
▼ + stars: | 2023-08-08 | by ( Tien Tzuo | ) www.businessinsider.com time to read: +8 min

I advise young engineers today to work for Fortune 500 companies, not Big Tech. Today, however, he's working on a project for a different kind of tech company: John Deere. There is no magic at Big Tech companies, there's only money. And Fortune 500 companies simply don't have the luxury of buying talent just to park it. Today, all companies are tech companies, and they all want to see more recurring revenue in their business models, which means they need smart, restless engineers.

Persons: moonshots, Jon Weisz, John Deere, Weisz, Peter Thiel, that's, Philips, Ford, Tien Tzuo, Tzuo Organizations: Fortune, Big Tech, Corporations, Oracle, Apple, Nike, Honeywell, Volvo, Boeing, Whirlpool, Technologists, Facebook, Consumer, SEI, Microsoft, EV, Cornell, Stanford Locations: Columbia, Baltimore, Hulu, Atlanta, Salesforce

☆ Amazon will soon let you order Doritos and Diet Coke from Whole Foods along with your organic kale
▼ + stars: | 2023-08-02 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +4 min

Currently, customers have to order separately from Amazon Fresh, Whole Foods, and Amazon.com. Amazon would like to make it possible to order these kinds of snacks and beverages along with a Whole Foods order. But for now, don't expect to see Doritos or Diet Coke, or other products with these banned ingredients in store. Starting August 2, non-members in select cities in the US will be able to order Fresh groceries to their doorsteps — a service that was limited to only Prime member holders previously. "We will accomplish this by more intentionally bringing together Amazon Fresh, Whole Foods Market, Amazon Go, Amazon Style, and Global Specialty Fulfillment under one global leadership team."

Persons: Coke, Tony Hoggett, Amazon's, Hoggett, Tayfun Organizations: Bloomberg, Amazon, Foods, Service, Tesco, Anadolu Agency, Getty Images Bloomberg Locations: Wall, Silicon

☆ Amazon will soon let you order Doritos and Diet Coke along with your order from Whole Foods
▼ + stars: | 2023-08-02 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +4 min

Currently, customers have to order separately from Amazon Fresh, Whole Foods, and Amazon.com. Amazon would like to make it possible to order these kinds of snacks and beverages along with a Whole Foods order. But for now, don't expect to see Doritos or Diet Coke or other products with these banned ingredients in stores. Starting Wednesday, nonmembers in some US cities will be able to order Fresh groceries to their doorsteps — a service that has been limited to Prime members. "We will accomplish this by more intentionally bringing together Amazon Fresh, Whole Foods Market, Amazon Go, Amazon Style, and Global Specialty Fulfillment under one global leadership team."

Persons: Coke, Tony Hoggett, Amazon's, Hoggett, Tayfun Organizations: Bloomberg, Amazon, Foods, Service, Tesco, Anadolu Agency, Getty Images Bloomberg Locations: Wall, Silicon, nonmembers

☆ What are 'full-time children'? Young adults in China are rejecting the rat race and getting paid by their parents to do chores while living at home
▼ + stars: | 2023-07-28 | by ( Haley Tenore | ) www.businessinsider.com time to read: +5 min

Some young adults in China are opting to work as "full-time children" in place of traditional careers. Full-time children are often paid by their parents to run errands, clean, and prepare food. In China, however, young people are turning this idea on its head and staying at home, working as "full-time children." China's notoriously grueling 996 culture, which entails 72-hour workweeks, and difficulty finding employment are some of the main contributors to the "full-time children" movement. In China, there are even social media groups devoted to the "full-time children" trend.

Persons: China's, it's, Julie, Jia Zhang, Zhang, Litsky Li, Li Organizations: BBC, NBC News, CNN, Census Bureau, Karma Locations: China

☆ What are 'full-time children'? Young people in China are rejecting the rat race and getting paid by their parents to do chores while living at home
▼ + stars: | 2023-07-28 | by ( Haley Tenore | ) www.businessinsider.com time to read: +5 min

Persons: China's, it's, Julie, Jia Zhang, Zhang, Litsky Li, Li Organizations: BBC, NBC News, CNN, Census Bureau, Karma Locations: China

☆ I'm a 21-year old student living in Scotland. I have no student debt, and my $900 monthly budget pays for my fitness club, nights out, and frequent travel.
▼ + stars: | 2023-07-26 | by ( Alexandra York | ) www.businessinsider.com time to read: +6 min

Joshua is a 21-year-old from Berlin who lives in Glasgow, Scotland to attend school. We asked Joshua, a 21-year-old Berlin resident who attends the University of Glasgow, about his biggest spending categories and cost differences between Europe and America. Occupation: Student and university employeeMonthly income: £700 (about $900), plus a £200 (about $250) stipend from his parentsStudent debt: $0. Now I live in Glasgow, Scotland for school. What's the biggest cost difference you've noticed between Germany, Scotland, and the US?

Persons: Joshua, Gen Zers, I'm, we're, we'll, I've, she's Organizations: Service, University of Glasgow, Occupation, Student, University of Glasgow ., Student Enterprise, Tesco, Asda, European Union Locations: Berlin, Glasgow, Scotland, Wall, Silicon, Europe, America, Germany, Sainsbury's

☆ Amazon cuts jobs at Fresh grocery stores
▼ + stars: | 2023-07-26 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon is cutting some jobs at its Fresh grocery stores, CNBC has confirmed. The company said it's restructuring the in-store staffing and operations model at its Amazon Fresh stores in the U.S., and as a result is eliminating its "zone lead" role. Amazon has been determined to crack the grocery segment since the launch of its Fresh delivery service in 2007. Earlier this year, Amazon said it would close some Fresh and Go stores as part of CEO Andy Jassy's effort to rein in costs. The job cuts at Amazon Fresh come after the company initiated its most expansive layoffs in its history, eliminating roughly 27,000 employees since late last year.

Persons: Jessica Martin, we've, Andy Jassy's, Jassy Organizations: CNBC, Amazon, Washington Post, D.C, Foods Locations: U.S, Washington

☆ Ocado jumps on return to first-half underlying profit
▼ + stars: | 2023-07-18 | by ( James Davey | ) www.reuters.com time to read: +3 min

The group swung to a profit for the six months to May 28, posting core earnings (EBITDA) of 16.6 million pounds ($21.7 million), ahead of a consensus forecast for a loss of 16 million pounds, and reversing a loss of 13.6 million pounds in the year-earlier period. Ocado (OCDO.L) said its Technology Solutions division made a profit for the first time, while its Ocado Retail business, the online supermarket joint venture it operates with Marks & Spencer (MKS.L), returned to profit in the second quarter. Shore Capital analyst Clive Black, a long term Ocado sceptic, focused on Ocado's losses at the pretax level, which widened to 289.5 million pounds. It maintained its guidance for Technology Solutions to deliver "positive" EBITDA over the full 2022-23 year, with Ocado Retail making "marginally positive" EBITDA, and its UK Logistics unit making "stable" EBITDA. The group's shares soared much as 47% on June 22 after the Times newspaper reported possible takeover interest from more than one U.S. suitor including Amazon (AMZN.O).

Persons: Spencer, Jefferies, Goldman Sachs, Tim Steiner, Ocado, Clive Black, Steiner, James Davey, Kate Holton, Jason Neely, Mike Harrison Organizations: Technology Solutions, Marks, Kroger, Casino, Shore Capital, Ocado, UK Logistics, Times, Thomson Locations: Ocado, United States, Japan, France, U.S

☆ UK grocery inflation continues downward trajectory -Kantar
▼ + stars: | 2023-07-18 | by ( James Davey | ) www.reuters.com time to read: +2 min

Market researcher Kantar said annual grocery inflation was 14.9% in the four weeks to July 9, falling 1.6 percentage points from the 16.5% in its June data set. The Conservative government's key pledge to halve inflation in 2023 ahead of a probable election in 2024 has been undermined by stubbornly high food inflation. The Kantar data going into July provides the most up to date snapshot of UK grocery inflation. Official data for overall UK inflation in June will be published on Wednesday. The researcher said UK grocery sales rose 10.4% over the four week period year-on-year on a value basis.

Persons: Kantar, Fraser McKevitt, James Davey, Aurora Ellis Organizations: LONDON, Conservative, Bank of England, Tesco, Iceland Foods, Aldi, Lidl, Thomson

☆ A Hawaii delivery driver who pulled in $114,000 on DoorDash last year says the tips are 'awesome' and it's like 'delivering in paradise'
▼ + stars: | 2023-07-16 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

Ronald Coleman, 45, brought in $114,000 in revenue last year driving for DoorDash in Honolulu, Hawaii. In the summer of 2020, he tried DoorDash, found some success, and eventually decided to pursue it full-time. For these drivers, Coleman said he has some advice. Coleman said he's tried delivering with Instacart, Uber Eats, and Grubhub, but that he's found considerably more success with DoorDash. Fourth: Even if it won't always result in a great tip, Coleman said providing great customer service is important for getting and keeping a high rating.

Persons: Ronald Coleman, Coleman, he's, Instacart, Uber, Doordash Organizations: DoorDash, Service, Aloha State Locations: Honolulu , Hawaii, Wall, Silicon, Michigan, Hawaii, Honolulu, United States, Aloha

☆ UK consumer group calls for government action on grocery prices
▼ + stars: | 2023-07-16 | by ( James Davey | ) www.reuters.com time to read: +3 min

says supermarket prices have risen 25.8% in two yearsSome prices have jumped by as much as 175%, consumer group saysRetailers say they have absorbed cost increasesLONDON, July 17 (Reuters) - British consumer group Which? has urged the government to take action to support households when the competition watchdog publishes its review of grocery pricing, saying some food prices have jumped by as much as 175% since 2021. found that supermarket prices rose by 25.8% between June 2021 and June 2023. Food prices have been driven up by increased costs for animal feed, fertiliser and fuel as well as energy and labour. While the UK government has raised concerns about soaring food prices it has said it was not considering imposing price caps.

Persons: Phil Noble, Jeremy Hunt, Helen Dickinson, James Davey, David Goodman Organizations: REUTERS, Tesco, Asda, Waitrose, Markets Authority, CMA, British Retail Consortium, Thomson Locations: Altrincham, Britain, British, Morrisons, Aldi, Europe, Hungary

☆ Grocery prices held steady in June, offering some relief
▼ + stars: | 2023-07-12 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

New York CNN —Grocery prices stayed steady in June after ticking up in May, offering some relief to shoppers. Together, food prices rose 0.1% for the month, according to the latest Consumer Price Index, released Wednesday by the Bureau of Labor Statistics. In that time, grocery store prices grew 4.7%, while menu prices went up by 7.7%. “We’ve seen a persistent slowing of grocery prices,” Jared Bernstein, chair of the Council of Economic Advisers, a group that advises the president, told CNN. How prices changed in JuneFrom May to June, when grocery prices stayed flat, some specific items notched increases.

Persons: “ We’ve, Jared Bernstein, ”, Jordan Vonderhaar, Ham, Bacon, Milk, Bernstein Organizations: New, New York CNN, Bureau of Labor Statistics, BLS, of Economic Advisers, CNN, Bloomberg, Getty, Assistance, SNAP Locations: New York, Ukraine

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