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Inflation: Soaring Food Costs Squeeze US Consumers
Posted
October 14, 2022
Views
1,844
Likes
35
Comments
11
Engagement
2.49%
October 14, 2022
1,844
35
11
2.49%
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1:28Now PlayingFood prices kept soaring in September and were one of the “many contributors” to worse-than-expected US inflation.
Grocery prices in September were up 13% from a year ago, with goods such as flour, cookies, turkey, and canned fruits and vegetables all rising by the most ever, Labor Department data Thursday showed.
Meanwhile, the index for food at schools and employee sites jumped 45% from the prior month and 91% on an annual basis. While it represents a very small share of the overall consumer price index, it’s just one more cost increase weighing on Americans. The surge is the result of the expiration of a pandemic-era program providing free meals to all public-school students just as classes resumed this autumn.
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