US Grocery Costs Jump The Most In 46 years

CNBC: US grocery costs jump the most in 46 years, led by rising prices for meat and eggs

* The Labor Department reported Tuesday that prices U.S. consumers paid for groceries jumped 2.6% in April, the largest one-month pop since February 1974.
* The price of the meats, poultry, fish and eggs category rose 4.3%, fruits and vegetables climbed 1.5%, cereals and bakery products advanced 2.9%.
* The grocery numbers stand in stark contrast to the broader trend in U.S. prices, which fell 0.8% in April and clinched their largest one-month decline since 2008.

Prices Americans paid for eggs, meat, cereal and milk shot higher in April as people flocked to grocery stores to stock up on food amid government lockdowns designed to slow the spread of Covid-19.

The Labor Department reported Tuesday that prices U.S. consumers paid for groceries jumped 2.6% in April, the largest one-month pop since February 1974. The spike in supermarket prices was broad-based and impacted items from broccoli and ham to oatmeal and tuna.

The price of the meats, poultry, fish and eggs category rose 4.3%, fruits and vegetables climbed 1.5%, cereals and bakery products advanced 2.9% and dairy goods gained 1.5%.

Read more ....

WNU Editor: If the price for fuel to transport these goods did not collapse, these increases would be significantly worse. Where I live (Montreal), I have noticed a significant increase in grocery costs. Especially on fresh products.Here is an easy prediction. If we get a more serious second wave of the Covid-19 coronavirus this fall, shortages and higher prices would make last month's price increases pale in comparison.



from War News Updates https://ift.tt/3bpvJmX