A food economist says food inflation continues to ease.
David Ortega with Michigan State University says while prices are up, they are headed in the right direction. “Food prices right now are 4.3% more expensive than they were a year ago,” he says. “But it’s important to keep things in perspective. We reached peak food price inflation in August of last year, we’ve come down quite a ways from those highs.” In August 2022, food prices rose 11.3 percent from the previous year, through August of this year food prices rose 4.3 percent, down from 4.9 percent in July.