Grocery prices comparison: Inflation at its worst vs today

Annual inflation cooled to 3.1% last month, but that’s still hotter than expected, and rising food prices are part of the reason why.

From December to January, grocery prices accelerated 0.4%, up from 0.1% the month prior, according to the latest Consumer Price Index (CPI) released Tuesday.

Compared to a year ago food inflation has improved. Grocery prices are up 1.2% year-over-year, the slowest annual rate since June 2021 and well below the 13.5% surge in August 2022.

Data suggests Americans’ pain at the checkout varies based on their shopping cart. Prices for staples like eggs, apples and lettuce are down from previous highs while other items like bread, sugar and juice continue to rise.

Today, Americans are paying 25% more for groceries than they were in 2019 and those prices have risen faster than overall inflation. A recent NewsNation/Decision Desk HQ poll found nearly 9 in 10 people are still concerned about inflation and a plurality (46%) ranked it as the top issue facing the country.

Research suggests supermarket prices play an outsized role in shaping consumers’ perceptions about inflation and in recent months President Joe Biden has blamed corporations for “ripping people off.”