Americans are paying the most for groceries in nearly 50 years in wake of the coronavirus pandemic.
CNBC reported that, according to The Labor Department, prices U.S. consumers paid for groceries jumped 2.6% in April. It’s the largest increase in a month since February 1974. The data comes from a Tuesday news release of the latest consumer price index from the Bureau or Labor Statistics.
The cause for the increase comes from multiple groceries, including eggs, meat and poultry, tuna, oatmeal and broccoli.
“The index for meats, poultry, fish, and eggs increased the most, rising 4.3 percent as the index for eggs increased 16.1 percent,” the release said. “The index for cereals and bakery products rose 2.9 percent in April, its largest monthly increase ever.”
Because of the increase in people buying groceries and cooking at home, the food at home index has gone up. It increased sharply in April by 2.6 percent.
Dining out statistics has changed too. The food away from home rose 0.1 percent in April after going up 0.2 percent in March, the release said. The index for limited-service meals rose 0.7 percent, while the index for full-service meals declined 0.3 percent.
The non-food index, which includes items like used and new cars and trucks and recreation is down. Indexes for medical care, rent and household furnishings have increased.
More information on the consumer price index summary is at the Bureau of Labor Statistics website.
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