The price of food at home increased 11.9% over the past year, the largest 12-month increase since April 1979, according to the U.S. Bureau of Labor Statistics’ Consumer Price Index data for May. On a monthly basis, the price index rose 1.4%, marking its fifth consecutive increase of at least 1%.
All of the six major grocery food groups saw prices go up on a monthly basis, with dairy seeing the steepest increase at 2.9%. Dairy prices increased 11.8% year-over-year, with milk rising 15.9% and cheese jumping 8.7%. Butter prices rose nearly 16% over the past 12 months.