THERE HAS BEEN LITTLE RELIEF FROM INFLATION...May’s food-at-home index jumped even higher, up 11.9% year over year and marking the largest gain since the 12 months through April 1979

Last week, the U.S. Bureau of Labor Statistics (BLS) reported that the May Consumer Price Index (CPI) rose 1% month to month (seasonally adjusted) and 8.6% year over year, the highest 12-month increase thus far in 2022.

May’s food-at-home index jumped even higher, up 11.9% year over year and marking the largest gain since the 12 months through April 1979, according to BLS.

The month-over-month rise in the food-at-home index continues to be steep in 2022, up 1.4% in May after increases of 0.9% in April, 1.5% in March, 1.4% in February and 1% in January.

“Retail sales are reflecting Americans’ growing concern about inflation and its impact on the cost of everything from groceries to gas,” according to NRF President and CEO Matthew Shay. “Retailers are doing what they can to keep prices down, but we continue our call on the administration to repeal unnecessary and costly tariffs on goods from China to relieve pressure on American consumers and their family budgets.”

Grocery Store Sales Stay on the Rise in May

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