Food, in total, was 11.4% more expensive than last year. The price for chicken rose 16.6% year-over-year in August. Flours and prepared flour mixes were up 23.3%, and butter was up 24.6%.
Food prices continued to rise in August, putting pressure on lower- and middle-income households in particular.
Avian flu also impacted poultry production. The price of chicken was 16.6% higher in August than it had been a year earlier. In addition to extreme heat and tight supplies, consumers have shifted their purchases toward chicken from typically higher-priced beef, according to Brian Earnest, lead economist for animal protein at CoBank, a national cooperative bank serving industries across rural America.
Don’t miss: A quarter of the U.S. will fall inside an extreme heat belt. Here are the states in the red zone.And: These money and investing tips can help you stay cool as stocks wilt in the August heat “Fresh fruits and vegetables were up 7.9% in August, but lettuce was 15.2% more expensive, hit by extreme heat in the western U.S.”
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