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IPFS News Link • Economy - Economics USA

Online Grocery Prices Up 10.3 Percent In March As Inflation Continues To Bite

• https://www.zerohedge.com by Bryan Jung

Although online grocery prices have eased over the past six months, costs were up 10.3 percent in March from the previous year, according to the Adobe Digital Price Index on April 10.

Adobe analyzed 1 trillion visits to retail sites and more than 100 million items across 18 product categories to track price changes.

There was a 0.4 percent rise in the growth of food prices from February, which had been slowing since their height last September, when they hit a record 14.3 percent year-over-year increase.

Online grocery prices closely follow the food category in the Labor Department's Consumer Price Index (CPI).

Hit With Persistent Inflation

Online food prices are expected to grow more slowly in 2023 compared to the previous year, but still above historical averages, according to Adobe.

The March CPI report projected that food prices would increase by 7.5 percent in 2023, particularly for nine additional food categories, which have experienced consistent growth since last year.

The category expected to see the largest surge in prices is eggs, which saw an estimated rise of 29.6 percent, after taking into consideration the volatility of the industry.


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