Lower Meat Prices Stall Food Inflation

Consumer food prices in the U.S. were unchanged in July, thanks largely to declining meat costs. The Labor Department reports the consumer price index for meats, poultry, fish and eggs purchased at the grocery store dropped 0.6 percent last month, following a 0.7 percent decrease in June. Over the previous 12 months, meat, poultry, fish and egg prices together have fallen 5.6 percent. The decline has contributed to a decrease of 1.6 percent in the index for all food consumed at home over that time span, according to Meatingplace. In July, the index for food at home fell 0.2 percent, its seventh decline in the past nine months. Prices for dairy, cereal and bakery products fell last month, while fruits, vegetables and nonalcoholic beverages turned higher.