The soaring prices of grocery items from two years ago have faded on many items, including drops of over 15% on select items, but remain elevated, one agency’s analysis shows.
The inflation rates have cooled on items such as yogurt, cereal, soft drinks and water and coffee, according to data from the real-time Shopper Intelligence Platform by Catalina, a national agency that specializes in shopper intelligence.
The average 3% inflation rate in the first quarter Catalina reported was on par with the 3.5% inflation rate the Consumer Price Index reported in March. But compared to the first quarter 2023, the rate fell in every category, Catalina found.
That included:
- Yogurt: 21% in 2023 to 3% in 2024
- Cereal: 21% to 5%
- Soft drinks and water: 19% to 4%
- Frozen prepared foods: 17% to 1%
- Coffee: 16% to 1%
- Frozen vegetables: 16% to 1%
- Hand baths and soaps: 17% to 8%
- Deodorants: 12% to 6%
"Our latest data shows grocery inflation has dropped considerably from a year ago in these 10 categories," said Wesley Bean, U.S. chief revenue officer at Catalina. "While this is positive news overall, it's important to remember the impact isn't felt evenly. Value-conscious shoppers are still grappling with significant price increases on essential items, even as the broader inflation rate cools."
Prices for other items have spiked compared to a year ago, the report found. The biggest have been on convenience items and common items for families with children:
- Baby laundry detergent: 21%
- Isotonic drinks: 19%
- Cereal bars: 13%
- Yogurt with fruit on the bottom: 11%
- Kids’ frozen dinners: 7%
- Baby wipes: 6%
- Single-serve coffee: 3%