Food price inflation rises in the US and UK, but seafood prices fall

After four months of deflation in food prices, prices in the UK rose in July.

Food inflation rose 1.8 percent in July, up from 1.6 percent in June. Prices rose month-on-month for the first time since March 2023, research firm Kantar said in a press release.

Head of Retail and Consumer Insights at Kantar Fraser McKevitt said the increase was notable but not alarming.

“It actually marks a return to the average level of the five years before the cost of living crisis began,” McKevitt said.

Price Costs rose in 182 product categories, but fell in 89 other categories, McKevitt said.

“At this price range, buyers will find that the type of product they'what they put in their shopping basket really determines how much they pay,” he said. “They'We continue to take advantage of the numerous special offers from grocery retailers to keep shopping prices low.”

According to McKevitt, spending on special offers increased 15 percent in July, while sales of regular-priced products saw no increase.

According to Kantar, takeaway food sales in the UK rose 3.8 percent year-on-year in the four weeks to August 4, 2024.

The start of the Olympic Games and the UEFA European Football Championship this summer helped boost food sales.

“While people continue to make smart decisions about managing their budgets, we should never Love for big occasions,” said McKevitt.

Food prices also rose slightly in the United States in July, but the U.S. government noted that seafood prices continued to decline.

The US Bureau of Labor Statistics reported in July Consumer Price Indexreleased on August 14, found that the U.S. food index rose 2.2 percent compared to July 2023 and 0.2 percent from June to July. The at-home food index rose 1.1 percent compared to last July, and the average price of food away from home rose 4.1 percent.

Seafood prices in the US …