The cost of groceries jumped 1.4% in May — the fifth straight increase of 1% or more. Here are the items whose prices have seen some biggest bumps.
Americans are suffering sticker shock every time they go to the grocery store: They’re coping with the biggest increase in food prices since 1979 — not to mention shrinking package sizes.
What’s worse, the cost of groceries has leaped almost 12% in the past year, based on the consumer price index.Until the recent surge, the cost of food has been relatively stable for years. There were brief spikes in 2011, 2008 and 1996, but they didn’t last long.The cost of almost everything has risen sharply in the past year:The cost of grains such as wheat and corn have soared in the wake of the Russian invasion of Ukraine.
Many companies have responded by shrinking package sizes so consumers won’t notice — pasta boxes at 15 ounces, coffee in 10-ounce packages, beer in 11.2 ounce bottles and so forth.
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