While still rising, grocery prices appear to be cooling while those at restaurants are stabilizing – reinforcing industry leaders’ optimism that input costs are cresting and the macro environment is beginning to stabilize.
The price of Cereals and Bakery Products jumped 11.6% year-over-year, marking the biggest jump since July of 1981, likely impacted by the soaring prices of fats and oils, up 16.9% compared to a year ago, with butter and margarine up 20.2%.
