US Food Inflation Eases Further

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Food inflation in the United States fell to 2.7% year-on-year in December 2023, the lowest since June 2021, easing from 2.9% in the prior month and a peak of 11.4% in August 2022. Prices continued to slow down for food at home (1.3% vs 1.7% in November) and food away from home (5.2% vs 5.3%). Monthly, food prices went up by 0.2% in December, the same pace as in November.

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