According to Channel 3000, despite recent inflationary decreases, grocery prices nationwide rose in May following dips in March and April.
From April to May, adjusted for seasonal swings, grocery prices increased by 0.1%, and menu items rose by 0.5%.
Year –over year, grocery prices were 5.8% more expensive in May, and menu prices have risen by 8.3% over the same period. Collectively, food prices jumped 6.7% throughout the year and outpaced overall annual inflation of 4%.
Factors that have impacted the rise in food prices include extreme weather, the war in Ukraine, avian flu, and higher supply chain costs.
