Chart of the Day: Food Is Cheap!

Whenever you point out that inflation is pretty low these days, you can expect a flurry of responses along the lines of, “Have you seen the price of eggs lately?!?” As it happens, yes, I have. More to the point, the US government tracks food inflation, and it’s really low right now. As in negative. Food bought in stores (as opposed to restaurant food) is 2.2 percent cheaper than it was a year ago. This means the average family is spending about $150 less on groceries than they did in 2015. Happy Holidays!