Food-at-home prices increased in April at a 2% annual pace, down from 2.4% in March, according to Consumer Price Index data released by the U.S. Bureau of Labor Statistics.
Across-the-board inflation ticked down last month to 2.3%, its lowest rate since February 2021.
It’s also the smallest month-over-month increase in inflation since 2020.
The decline in grocery inflation in April represented the first monthly decline for the figure since October 2024.
Egg prices continued to play an outsized role in the rate of grocery inflation in April, as a nearly 50% year-over-year increase in the cost of the commodity helped push the BLS index that also includes meats, poultry and fish up at a 7% annual clip.
That dynamic could change in the coming weeks, as figures from the USDA released May 9 show that the national average retail price for conventional caged eggs was down by 17% compared with the prior week, to $3.30 per dozen.
