In December, “food at home” prices increased 0.2% from the month before, according to data released Thursday by the Bureau of Labor Statistics.
On an annual basis, however, grocery prices remain stubbornly high (and nearly double the rate of overall inflation) at 11.8% year over year.
“Fertilizer costs have improved, but they still remain very high.
Labor costs still remain a problem — and the list goes on.”In addition to those broader pressures, other factors, including weather and disease, are heavily affecting certain products’ prices.
“It makes it extremely challenging for a mom-and-pop [business].”He added: “We’re just trying to stay alive and hope that things will come down.”The expectations are for food price increases to continue to moderate, Bailey said.