Here’s what’s getting more expensive at the grocery store –

by | Aug 10, 2022 | Financial

Inflation may be slowing overall, but food prices are still sky-high.Over the last 12 months, grocery prices soared 13.1% — the largest annual increase since the year ending in March 1979, the Bureau of Labor Statistics said Wednesday.The prices of nearly every grocery item have ballooned over the past year.The cost of eggs has soared 38%, and prices for other goods have also jumped: Flour is up 22.7%, chicken 17.6%, milk 15.6%, ground beef 9.7% and bacon 9.2%. Fruits and vegetables got 9.3% more expensive.A number of factors have contributed to the rise in food costs: A deadly avian flu has meant fewer eggs in the United States, a severe drought in Brazil slashed coffee crops and the war in Ukraine led to a spike in wheat prices in the spring.While commodity prices are falling, it will take time before those lower costs pass through to consumers. Plus, plenty of other costs for producers — such as fuel, labor an …

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