Good news has finally arrived for grocery shoppers: prices are progressively declining.

The U.S. Producer Index keeps tabs on the costs sellers incur before passing along goods and services to customers. Prices are down 5% according to the index reported this week, which is more than economists had anticipated.

The 1.2% decrease in food costs was the largest monthly drop in two years.

According to expectations, it won't reduce grocery costs significantly just yet, but it could be a hint that inflation is slowing down.

Additionally, retail sales are falling. According to a report from the Commerce Department, retail sales in December decreased by little over 1% from the prior month. Additionally, it exceeds economists' expectations.

There's also a growing demand for non-alcoholic beverages. A Nielsen Report showed sales of non-alcoholic beverages like canned mocktails, spirits, beers and wines increased by 20.6% between Aug. 2021 and Aug. 2022, bringing the total to $395 million.