By William Kohler
Food prices continued their upward trend in January, with the food index rising 0.4% for the month. At this rate, food prices would increase 4.9% over the next year.
Grocery shoppers felt the biggest pinch in the meats, poultry, fish, and eggs category, which jumped 1.9%, largely driven by a 15.2% spike in egg prices—the biggest monthly jump since 2015, accounting for about two thirds of the total monthly increase.
Other grocery staples also ticked up, with nonalcoholic beverages rising 0.9%, while dairy and related products increased 0.3%. On the flip side, fruits and vegetables saw a slight 0.5% drop, helped by lower prices for tomatoes (-2.0%) and other fresh veggies (-2.6%). Cereal and bakery products also fell 0.4%, with breakfast cereals taking a notable 3.3% dip.
Dining out wasn’t immune to price changes either, as food away from home edged up 0.2% in January. Limited-service meals (like fast food) increased 0.3%, while full-service restaurant prices rose 0.1%.
Over the past year, the food-at-home index rose 1.9%, with egg prices skyrocketing 53%. Meanwhile, dining out got pricier too, with the food-away-from-home index up 3.4% compared to last year.
Prices Overall
Prices for food plus energy, cars, clothes, medical care, shelter and transportation rose 0.5% in January and 3.0% over the past year. January’s increase surpassed each of the prior six months’ increases. The biggest drivers for were car insurance (2.0%), recreation (1.0%), and used vehicles (2.2%). At a monthly rate of 0.5%, prices overall would increase 6.17% over the next 12 months.
New vehicle prices remained unchanged but may be affected soon by tariff increases.
William Kohler is the Chief Executive Officer and Chief Innovator of VELN. He also leads the firm’s Strategic Advisory Board. In these roles, he ensures that clients’ needs for business contracts, intellectual property protection, and general advisory services are met efficiently and effectively.
Prior to VELN, Mr. Kohler served as Chief Legal Officer for major corporations and held leadership positions at prominent law firms. He is recognized for his thought leadership on various legal topics, including legal service delivery, economic trends affecting the legal framework in which businesses operate, the intersection of technological innovation and the law, and the architecture and development of commercial and technology agreements.
He holds a J.D. from the University of Michigan Law School, an M.B.A. from Michigan State University, an M.S. from Texas A&M, and a B.S. from the Honors College of the University of Michigan.
When he’s not busy practicing law and writing for the Vermilion Daily, Will Kohler enjoys sailing his antique sailboat on Lake Erie, horse riding, and woodworking. He calls Vermilion, Ohio, home. Like many Vermilionites, he pays close attention to local issues. He believes in citizen journalism, government transparency, and community support.
