Food Up 6.8% Annually, Up 0.6% Monthly

November 10, 2023 | 0 Comments

The cost of pasta went up 59.9% while the average price of prunes decreased 18.6% on annual basis, while on a month to month basis, the cost of food purchased in restaurants increased 2.6% and the price of eggs dropped 10.8%.

This is according to the recently released June Consumer Price Index which said that on an overall month to month basis the food sector advanced 0.6% in June, while an annual basis the food sector increased 6.8%.

As far as year to year food prices, the report said, “The Food sector was the largest contributor to the twelve-month increase in the CPI [+6.8 per cent]. Factoring into the annual increase was the cost of pasta [+59.9 per cent], cooking oil [+37.7 per cent] and sugar[+33.3 per cent]. Additionally, food purchased in restaurants increased 3.4 per cent.

“In contrast, the annual average price of prunes [-18.6 per cent], spareribs [-9.7 per cent] and raisins [-7.6 per cent] decreased.”

Looking at food prices on a month to month basis, the report said, “The Food sector advanced 0.6 per cent in June. On average, food purchased in restaurants increased 2.6 percent.

“In contrast, price decreases were reported in the average cost of eggs [-10.8 per cent], chocolates and candies [-4.6 per cent] and fruit juices [-4.3 per cent].”

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