U.S. Food Price Rises Peak Over 50 Years

U.S. Food Price Rises Peak Over 50 Years

Do groceries seem more expensive? In April there was the biggest jump in food prices in 50 years.

According to the CPI, in April, food prices jumped to the highest level since 1974. In April, Americans paid 2.6% more in stores than in March, according to the Bureau of Labor Statistics. Price increases are due to the effects of quarantine throughout the United States.

Meat, poultry, fish and eggs went up the most – 4.3%. The price of bread, pastries, pasta and soft drinks rose by 2.9%.

“Where most of the demand, prices are rising. Inflation is also driven by more complex production conditions and supply disruptions, ”said Peter Boockvar, Investment Director, Bleakley Advisory Group.

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