Grocery Inflation Slows, Wages Rise

This is a news story, published by The White House, that relates primarily to Consumer Expenditure Survey news.

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grocery inflation

The White House

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In this post, we show that grocery inflation is way down from its recent peak, and because wage growth has been strong, grocery purchasing power is up

Summary

Nutrition label

83% Informative

Americans are exposed to grocery prices on at least a weekly basis, and they represent a significant share of household spending.

Grocery inflation is way down from its recent peak, some grocery prices have fallen, and because wage growth has been strong, grocery purchasing power is up.

27% of the grocery basket saw price declines over the past year , about the same as the average since 2000 .

We use the most recent data available on the typical grocery basket, from the 2022 Consumer Expenditure Survey .

We adjust over time using the CPI grocery price index.

The nominal cost of the basket of groceries is then divided by nominal average hourly earnings for production and non-supervisory worker in the same period.

VR Score

Informative language

Neutral language

Article tone

informal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful