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Grocery prices up 11.5% year-over-year

woman in grocery store
Low-Income consumers are most impacted by inflation, paying 12.8% more for groceries than a year ago, according to a report by Numerator.

A new study confirms that prices of everyday goods have risen significantly — but not the same for everyone.

In February 2022, consumers paid more for their everyday goods, including groceries, with prices up 11.5% over a year ago and up 18.2% over two years ago, according to Numerator’s Inflation Insights Price Pulse study. The biggest increase in grocery prices was seen in dollar stores, with prices up 14.3% over the year-ago period. In the first two months of 2022, online grocery prices spiked 12.4%.

Low-income consumers are most impacted by inflation, paying 12.8% more for groceries than a year ago. This compared to middle-income (up 11.4%) and high-income consumers (up 11.1%).

[Read More: NRF chief economist talks about inflation]

In its Inflation Insights Price Pulse, Numerator quantifies price changes during the past three years, providing an omnichannel view of rising prices and detailing channel-specific views and consumer demographic segments.

Other insights from Numerator are below. 

• Minority consumer groups have been impacted the most by rising prices, with Asian consumers seeing the largest price increases — up 12.4% — per grocery item. This was followed by Hispanic/Latino consumers (up 11.9% per item) and Black consumers (up 11.8%). White/Caucasian consumers saw the smallest increase (up 11.3%).

• Gen Z consumers are facing a more significant inflation increase (up 13.5%) for groceries than millennials, Gen X, and boomers (up 11.3%).

• Household items saw the sharpest increases in prices, rising 15.3% over a year ago and 24% over two years ago, across all categories.

• Health & beauty items (up 11.2% over a year ago and 21.9% over two years ago) saw price increases throughout the second half of 2021, but growth has decelerated in 2022.

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