Americans finally got some relief in the grocery store last month as prices fell.
Food prices overall fell a seasonally adjusted 0.4% in July, the first decrease since April of last year, the Bureau of Labor Statistics reported Wednesday. Prices of food for the home fell 1.1% in July, compared to an increase of 0.7% in June.
Grocery costs have been rising during the pandemic as demand has surged. Although there’s been no shortage in food, supply chain failures have tightened the supply of items reaching stores, which has driven up prices.
Now, it seems prices are starting to stabilize. Meat prices in particular finally fell after soaring in May and June,
From June to July, beef and veal prices went down 8.2%. Uncooked beef roasts and steaks got 8.7% cheaper. Pork prices fell 3.2%. Consumers paid 5.7% less for ham and pork chops, and 2.6% less for chicken.
But there was one type of meat that got more expensive: hot dogs, which have been in high demand. Prices jumped 2.4% last month, perhaps in part because of the Fourth of July holiday.
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