Food Prices in the US with a Record Jump

World | August 11, 2022, Thursday // 09:51
Bulgaria: Food Prices in the US with a Record Jump @Pexels

The overall level of food prices in the US has risen 10.9 percent since 2021, Bloomberg reported, citing the US Department of Labor. It is noted that this is the most significant jump since 1979.

In particular, soups set all-time records for price growth with price increases of 19.1%, cereals (16.8%), baby foods (15%) and frozen fruit and vegetables (10.6%). Also, eggs in US stores rose 38% to their highest since October 2007, and dairy prices rose 14.9% to their highest since June 2004.

The publication noted that due to lower energy prices, inflation decreased from the previous month, but due to rising food and rent costs, this did not have a strong impact on the lives of American consumers. This is especially true for low-income US residents who spend a large portion of the family budget on groceries.

In mid-July, it was reported that US inflation hit a new 40-year high in June due to a surge in gasoline prices and higher food prices.

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