From March to April, grocery prices ticked down 0.2%, with many major food groups marking sharper declines. Dairy prices fell 0.7%, thanks to a 2% decline in milk prices, which was the biggest drop in that category since February 2015. Together, fruit and vegetable prices fell 0.5%, and prices for meat, poultry, fish, and eggs dipped 0.3%. Other food items, including cereal and bakery products, got a bit more expensive last month. And menu prices increased by 0.
6% in the quarter, driven in part by menu price increases. Food prices have been soaring due to a number of factors. Extreme weather, from droughts to flooding, has been hurting crops and reducing supply. The war in Ukraine has impacted grain and other prices. Avian flu has constricted egg supply. And all of these disruptions, plus others, have provided cover for food companies to raise prices even above what their rising costs would dictate.
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