Are prices lower in stores compared to a year ago?

No, overall prices in stores are not lower compared to a year ago. While the rapid rate of inflation has moderated significantly compared to the dramatic spikes seen in 2022 and 2023, prices are still rising. This means store items, on average, continue to get more expensive rather than cheaper.

An analysis of the latest Consumer Price Index (CPI) data from the Bureau of Labor Statistics (BLS) highlights how prices across different store aisles compare to last year:

1. Overall Retail & Consumer Goods

•General Inflation: The overall CPI (which measures economy-wide prices) rose by 3.7% year-over-year. On average, you have to spend more money now than you did a year ago for the same basket of goods.

•Core Goods: Even when excluding highly volatile categories like food and energy, "Core CPI" rose by 2.6% over the past 12 months.

•Clothing: If you are shopping for apparel, prices are not lower. The CPI for apparel increased by roughly 3.4% compared to last year.

2. Grocery Store Prices (Food at Home)

Supermarket prices are still climbing, though at a much slower pace than in previous years:

•The Grocery Basket: The "food-at-home" index (groceries) is up 1.8% to 2.2% compared to last year.

•What is More Expensive: Several staple categories have seen notable price increases over the past year. For example, fresh vegetables are up about 2.8%, nonalcoholic beverages (especially coffee) are up 3.8%, and sugar and sweets have jumped 5.5%.

3. What Is Cheaper? (The Exceptions)

While the average shopping trip is more expensive, there are a few specific items that have actually dropped in price compared to last year:

•Eggs: After skyrocketing to historic highs due to avian flu outbreaks, retail egg prices have plummeted and are down about 20.6% compared to last year.

•Dairy, Fats, and Oils: Prices for dairy products and fats/oils have also seen modest declines or flatlined compared to last year's peaks.

Slower Inflation vs. Lower Prices

A common point of confusion for shoppers is the difference between disinflation (prices rising at a slower rate) and deflation (prices actually falling). While it is good news that grocery and retail inflation has cooled down to normal historical ranges, it simply means prices are compounding more slowly—it does not erase the steep price hikes that built up over the last few years.

Citations (11)

1foodtradenews.comNews and media
foodtradenews.com
Backs: “No, overall prices in stores are not lower compared to a year ago. While the rapid rate of inflation has moderated significantly compared to the dramatic spikes seen in 2022 and 2023, prices are still rising.”
2foodnavigator.comNews and mediaquality 0.68
foodnavigator.com
Backs: “No, overall prices in stores are not lower compared to a year ago. While the rapid rate of inflation has moderated significantly compared to the dramatic spikes seen in 2022 and 2023, prices are still rising.”
3in2013dollars.comData and tools
in2013dollars.com
Backs: “This means store items, on average, continue to get more expensive rather than cheaper.”
4senate.govGovernment
senate.gov
Backs: “General Inflation: The overall CPI (which measures economy-wide prices) rose by 3.7% year-over-year.”
5bls.govGovernment
bls.gov
Backs: “General Inflation: The overall CPI (which measures economy-wide prices) rose by 3.7% year-over-year.”
6proactiveadvisormagazine.comNot yet classified
proactiveadvisormagazine.com
Backs: “Core Goods: Even when excluding highly volatile categories like food and energy, "Core CPI" rose by 2.6% over the past 12 months.”
7bls.govGovernment
bls.gov
Backs: “Core Goods: Even when excluding highly volatile categories like food and energy, "Core CPI" rose by 2.6% over the past 12 months.”
8savingsquarry.comNot yet classified
savingsquarry.com
Backs: “The CPI for apparel increased by roughly 3.4% compared to last year.”
9ycharts.comData and tools
ycharts.com
Backs: “The CPI for apparel increased by roughly 3.4% compared to last year.”
10heritage-foundation.orgNot yet classified
heritage-foundation.org
Backs: “Supermarket prices are still climbing, though at a much slower pace than in previous years:”
11usda.govGovernment
usda.gov
Backs: “The Grocery Basket: The "food-at-home" index (groceries) is up 1.8% to 2.2% compared to last year.”