Here’s What You Need To Know

Trips to the grocery store will cost consumers more and more as food inflation continues to rise. There are many reasons for this, including the war in Ukraine, shipping costs, and higher costs associated with the production of food items, including wages. How much have food prices risen in the past 12 months and how does this compare to general inflation?

The Bureau of Labor Statistics reported that food inflation has risen at a faster rate than the broader Consumer Price Index over the previous 12 months. General inflation, as measured by CPI-U, rose 3.2% for the 12-month period ending in July, while the cost of food rose 4.9% during the same period. Which food items rose the most and why? Let’s start with grain products.