EXPENSIVE EATS: Grocery prices still high despite slowing inflation
Published: Aug. 11, 2022 at 2:08 PM EDT
(CNN) – Food prices are still sky-high despite slowing inflation.
According to the Bureau of Labor Statistics, the cost of groceries soared 13% in a year, the largest annual increase since March 1979.
Eggs, flour, chicken, milk, ground beef, fruits and vegetables have all gotten more expensive.
Several factors have contributed to these rising prices, including higher costs for fuel and labor, a deadly avian flu in the U.S., a drought in Brazil, and the war in Ukraine.
Meanwhile, demand continues to grow.
People can’t simply stop buying food when prices rise, but they are opting for less expensive options, such as swapping steak for chicken.
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