Inflation Is Hitting Groceries Hard, With Food Prices up Nearly 11% Since Last Year
America's inflation worries are far from over. The inflation rate dropped slightly in April, but prices for essentials like groceries are still rising at a rapid pace. Prices for cars, airfare and gas are up steeply compared to a year ago too.
Consumer prices rose 8.3% on a yearly basis in April, according to new data from the Bureau of Labor Statistics (BLS), and were up 0.3% on a monthly basis. That’s a slight improvement from March, when prices rose 8.5% (a four-decade high) compared to the previous year and 1.2% compared to February.
Groceries were nearly 11% more expensive in April than they were a year earlier, BLS data shows, driven in part by particularly big jumps in the prices of meat, poultry, fish as well as eggs, which are 23% more expensive year over year.
