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Wednesday, May 13th, 2020

US Grocery Prices See the Biggest Jump in Nearly 50 Years

Author:     Diana Pearl
Source:     Adweek
Publication Date:     12 May 2020
 Link: US Grocery Prices See the Biggest Jump in Nearly 50 Years
Stephan:   I am really concerned that families already desperately stressed financially, are going to find the price of food escalating to a point beyond their means. Like everything else about this pandemic the Trump administration's abject failure to prepare for or manage this crisis is going to render the lives of ordinary people impossibly difficult. I encourage you to think about gardening, even if only on a balcony because I can see ordinary staples like lettuce going to $6-7 a head, and a half gallon of milk -- remember the millions of gallons thrown away because there was no plan to collect and distribute it -- going to $6.  The virus is just one of the crises the country faces, or will face.
Meat, poultry and eggs led the price bump in April.
Credit: Unsplash

In April, the prices Americans were paying for their groceries spiked by the highest percentage seen in nearly 50 years.

Today, the Labor Department reported that prices for groceries—also referred to as the “food at home” index—across the United States jumped by 2.6% in April, the highest single-month bump since February 1974, according to CNBC.

The spike in grocery prices is likely directly correlated to the spike in demand for the product. Grocery stores have been some of the only retailers around the country to keep their doors open during the coronavirus pandemic. And with restaurants closed to dine-in patrons, people have been eating at home more than ever, too.

In addition, there have been mounting concerns over the food supply chain, particularly in regard to the meat industry. The prices of meat products saw a particular spike: The cost of meats, poultry, fish and eggs jumped by 4.3%. However, the price increase was seen across food categories, though it was lower than the overall total. The cost […]

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