February Grocery, Health & Beauty and Household product inflation rates remain elevated, though the rate of increase slightly leveled off from 2022 highs.
Highlights for the four week period ending March 5, 2023:
- Grocery prices were up 7.8% vs. YA– down from prior weeks– with beverages and snacks outpacing total grocery.
- Health & beauty price increases have slowed down from 2022 highs, but saw a spike to 10.8% vs. YA, driven by Skin Care and Hair products.
- Prices for household items were up 10.2% vs. YA driven by air fresheners & household cleaners.