Food price increases set a 40-year-record in US
I was grabbing a can of soup for lunch recently and was immediately struck by how much smaller it was compared to the cans we were buying a few months ago. Food packaging is shrinking and prices are going higher. And according to a recent report by the US Bureau of Labor Statistics, food price increases have set a 40-year-record in America. The Daily Caller provides the details: Food prices have increased every month of 2022, with each month since February breaking 40-year records, according to data from the Bureau of Labor Statistics (BLS). […] Cereal and other bakery products cost 16.4% more year-over-year, while dairy products rose 16.2% year-on-year, according to the BLS August report. Chicken was up 16.6%, ham and pork were up 9.2% and 6.8% respectively, while beef was an exception, increasing only 2.5%. Butter was up 24.6%, while peanut butter was up 15.2% year-on-year, according to the BLS. Packaged foods also saw significant price hikes, with frozen food increasing 18.5% year-on-year, snacks increasing 16.7% year-on-year, and spices, seasonings, condiments and sauces …