Grocery, Health & Beauty and Household product inflation rates all surged in mid-July, after a few weeks of leveling-off. Health & Beauty and Household increases are likely a result of elevated spending on Amazon Prime Day (July 12-13).
Highlights for the four week period ending July 17:
- Grocery prices were up 15% vs. YA, a rate that has steadily increased from around 7-8% at the turn of the year with beverages and snacks outpacing total grocery.
- Health & beauty prices were up 14.7% vs. YA, the highest rate since early January. These increases were driven by Skin & Hair care, two categories with high sales on Amazon Prime Day 2022.
- Prices for household items were up 17.2% vs. YA driven by paper & plastic and household cleaners, two popular Prime Day categories.