According to the latest consumer price index, grocery store food prices contine to rise, increasing about a half a percent last month, and coming in about 5.5% higher than June a year ago. And even though by mid-June or so, US meat processing plants were reportedly operating at pre-COVID-19 capacity.
“We’re still seeing big increases in most meat categories,” said Agriculture Department Economist and Food Price Tracker, Carolyn Chelius. She noted the biggest increase is coming for beef with those prices rising 5.5% last month alone, and, “we’re seeing a 25% increase since June of last year.”
Prices for other meats are up as well, and compared to June a year ago.
“Pork is up 11.8% poultry is up 8.9%,” Chelius said.
And egg prices up 12%. Now last month USDA was forecasting overall grocery store food prices for the year will be up from 2.5 to 3.5%. But after seeing the latest CPI numbers they’ll want to revisit that, and they will.
The new forecast comes out July 24th.
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