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Food prices increase 2.4% annually: Bureau Labor Statistics

The Hungry Person's Breakfast at Deluxe Diner in Watertown, MA

(NewsNation) — According to the Bureau of Labor Statistics (BLS), food prices largely continued to increase during 2024.

At-home food and food away from home increased annually from Nov. 2023 to Nov. 2024 by 1.6% and 3.6%, respectively.


Overall, food has risen 2.4% with meats, poultry, fish, and eggs up 3.8% over the same period. Fruit and vegetables increased by 1.1%.

There was some relief for cereal and bakery product consumers, with prices dropping by 0.5%.

Through the same period, sweet tooths have been hit harder in the pocket, with a 1.5% increase in cakes, cookies, and cupcakes.

Among all food, eggs increased the most, according to BLS, going up 37.5%. Other price hikes included uncooked ground beef (4.8%), pork chops (5.1%), and uncooked beef steaks (5.0%).

The rising prices of eggs can be linked to bird flu’s impact on the supply chain as well as high demand for the nutrient-rich breakfast staple.

Price decreases most heftily occurred with processed fish and seafood (-2.5%), frozen bakery producers (-2.8%), uncooked poultry such as turkey (-1.9%), fresh biscuits, rolls, and muffins (-1.6%), crackers and bread (-1.6%).