Food prices in the United States fell in April, marking a rare decline that could signal a slowdown in consumer inflation. According to data released Monday by the U.S. Bureau of Labor Statistics, the food index dropped by 0.1%, with grocery prices showing the most notable decreases.
As reported by Reuters, prices for food at home fell by 0.4%—the steepest monthly drop since September 2020. Egg prices plunged by 12.7%, while meats, poultry, fish, and eggs declined by 1.6%. Prices for fruits and vegetables were down 0.4%, and cereals and bakery products fell by 0.5%. In contrast, prices for food away from home increased by 0.4%.
The data comes amid broader concerns about inflation and its impact on the U.S. economy. Although core inflation remains stubborn due to housing and services, the drop in food prices is seen by some analysts as a possible early indicator of easing price pressure.
Reuters notes that the report could influence the Federal Reserve’s upcoming decision on interest rates, as officials weigh the need to maintain higher rates against growing signs of economic softening.
