June 13, 2023 — Inflation continued to dampen U.S. retail demand in May 2023, even as fresh and frozen seafood prices dropped.
Inflation rose 4 percent in May year-over-year on an unadjusted basis, according to the U.S. Bureau of Labor Statistics. Overall food prices were up 6.7 percent during the period, with food away-from-home inflation up 8.3 percent and food-at-home inflation up 5.8 percent.