Food Costs Up 0.3% Monthly, Up 9.4% Annually
The cost of pasta went up 58.7%, cooking oil went up 51.2%, fruit juices went up 33.8% and ice cream went up 30.7% on a year to year basis, while on a month to month basis, pineapples went up 11.5%, potato chips went up 6.8%, baby food went up 5.8% and fruit juices went up 4.6%.
This is according to the recently released March Consumer Price Index which said that on an overall month to month basis the food sector rose 0.3% for the month, while an annual basic food sector increased 9.4%.
As far as year to year food prices, the report said, “In the twelve months to March 2023, the Food sector increased 9.4 per cent. On average, significant annual increases were reported in the cost of pasta [+58.7 per cent], cooking oil [+51.2 per cent], fruit juices [+33.8 per cent] and ice cream [+30.7 per cent]. In contrast, the annual average price of prunes [-15.3 per cent], potatoes [-5.1 per cent] and nuts and snacks [-2.0 per cent] decreased.”
Looking at food prices on a month to month basis, the report said, “On average, prices within the Food sector rose 0.3 per cent for the month. Price increases were reported for pineapples [+11.5 per cent], potato chips [+6.8 per cent], baby food [+5.8 per cent] and fruit juices [+4.6 per cent]. In contrast, the average price of lettuce [-16.3 per cent] and oranges [-7.9 per cent] declined.”
