Like the rest of inflation data, grocery prices are coming in hotter after slightly moderating last year.
The cost of groceries remained flat in March and is up 1.2% year over year, according to the latest data from the Bureau of Labor Statistics. This is the first month of year-over-year acceleration in US grocery prices since August 2022, breaking an 18-month streak of deceleration, per a note from JPMorgan analyst Ken Goldman.