Inflation finally appears to be abating across several CPG categories.
According to the most recently available numbers from consumer insights firm, Numerator, the rate of household inflation has reached the lowest level seen in a long time, and is now under-indexing versus the same period a year ago.
The data, for the period between September 1 and October 1, the average price per household item was down 3.86% versus a year ago.
Average price per item in grocery was up 4.62% versus a year ago, but is trending downward as of September, and down from sticker shock July spikes. Baking and cooking goods, in particular, are well off their summer highs.
Online grocery inflation continues to slow. After a peak in the first week of September (when it was up nearly 22%), the rate of online grocery inflation has fallen to the lowest level yet, down 4% vs. the same period a year ago.
Health and beauty prices were up 7.62% versus a year ago, showing a big drop off from its peak of a massive 22% spike in early September versus the year prior. Oral hygiene price-per-item is down 1.8%, following huge increases this past summer. Personal health care appears to be on a downward trajectory too.
