(The Center Square) – Despite slowing inflation in July, food prices have continued to rise at historic levels, the U.S. Bureau of Labor Statistics reported Wednesday.
“The food index increased 10.9 percent over the last year, the largest 12-month increase since the period ending May 1979,” BLS said.
Some grocery store items have seen prices rise even faster, though.
“The food at home index rose 13.1 percent over the last 12 months, the largest 12-month increase since the period ending March 1979,” BLS said. “The index for other food at home rose 15.8 percent and the index for cereals and bakery products increased 15.0 percent over the year. The remaining major grocery store food groups posted increases ranging from 9.3 percent (fruits and vegetables) to 14.9 percent (dairy and related products).”
Those price hikes on food were offset, though, by a drop in gas prices, leading to an overall unchanged consumer price index for the month of July.
“The gasoline index fell 7.7 percent in July and offset increases in the food and shelter indexes, resulting in the all items index being unchanged over the month. The energy index fell 4.6 percent over the month as the indexes for gasoline and natural gas declined, but the index for electricity increased. The food index continued to rise, increasing 1.1 percent over the month as the food at home index rose 1.3 percent.”
BLS said consumer prices have risen 8.5% in the last 12 months.
“The index for all items less food and energy rose 0.3 percent in July, a smaller increase than in April, May, or June. The indexes for shelter, medical care, motor vehicle insurance, household furnishings and operations, new vehicles, and recreation were among those that increased over the month. There were some indexes that declined in July, including those for airline fares, used cars and trucks, communication, and apparel.”
In June, consumer prices rose much more, roughly 1.3%. The difference in July came down to gas prices.
Gas prices hit a record national average of $5 per gallon in June but have dropped over the last eight weeks, now at $4 per gallon of regular gas.
The national average price just one month ago was $4.68 per gallon of regular gas.
“The national average is poised to fall back under $4 per gallon as early as today as we see the decline in gas prices enter its eighth straight week,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “By the end of the week, one hundred thousand stations will be at $3.99 or less.”
LET’s Go Brandon If you don’t think this is all done on purpose, you need to get your head out of the sand.
Of course this was done deliberately. It started the first dat that the corrupt, demented puppet president took office.
F… Joe Biden is just a puppet to Barack Obama and other treasonous elite Democrats, who hide and just give orders for their puppet Biden to obey. These treasonous enemies won’t be held accountable for what they ordered their obedient puppet Biden to do.
Who was it that put this corrupt demented puppet in the White House? It sure wasn’t the voters!!
Joe wants the farmers to go out and buy electric Tractors and harvesters and expects them and THE PEOPLE to suffer until they do. Well since they don’t make them yet and would get struck in the wet fields shorted out when it rains, I guess he wants us to suffer and starve for years, which since he will probably die from old age soon is no sweat off HIS nose. Add in a good old fashion drought that shows up about every 4-5years in the corn and wheat belts of the American mid-section and you just know that hunger is right around the corner with shortages of food and empty shelves reflected in the past two years of Democrat managed COVID. A same person might just think this was all preplanned to weaken the last best hope of mankind by someone beholden to China Russia or Iran? Not to worry, our spotless FBI of integrity assures us there was no Russian disinformation, and the Democrats won the election honestly. Just don’t object too much or you will Face an IRS audit with the FBI raiding your homes and safes while the Biden, Obama, and Clinton Crime families continue to do business as usual untouched. Welcome to what all began when we elected our first Black (Half Black) President which made us all feel good for about 15 minutes of his fame, now turned to American infamy.
WELL the left have been advocating for ‘population reduction’… Guess this is their method.
WRONG! I lived through the Carter years and because of Jimmy I never voted for a dummycrat president. Food prices were high and so was gas, but not anything close to what senile has done. Matter of fact, Jimmy Carter destroyed the American agricultural industries of this country and food prices did come down because the price of grain and meat fell like a rock with the rest of the economy. Gas was the only thing that continued to go up in price. The dummycrats blamed in on Reagan but the mess was dumped in Reagan’s lap and it took 6 years before any real recovery could be seen. We need Trump back. He’ll fix this crappy mess in 6 months.