US Food-at-home inflation rate at lowest level since 1992

Phil Lempert Supermarket Guru reports a Food Institute analysis of newly released government data shows grocery prices in October posted their largest decline in 50 years.

The Consumer Price Index for food-at-home last month was 2.8% less than the same month last year even though it posted a slight increase from the prior month.

As a result, the annualized food-at-home inflation rate through Nov. 1 was just 1.1% and will likely be only slightly higher than that level at year’s end.

That would put 2009’s food-at-home inflation rate at the lowest level since 1992 when it inched up less than a percentage point.