Food costs jumped last month, and it is not just eggs that are taking a bigger bite out of your pocket.
Yesterday’s CPI report showed the cost of cooking meals at home jumped half a percent last month. On the year, grocery prices are up just shy of two percent.
Eggs have been more expensive recently, but meats also saw a jump. Bacon now costs four percent more than last month and is up six percent on the year. Beef also saw a rise, gaining five-and-a-half percent on the year.
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In the U.S. and Canada, reduced planted acres—not yield losses—led to a decline in potato production, while Mexico saw modest gains due to increased yields and harvested areas.
Corn demand remains supportive, but weaker soybean buying limits overall export momentum.
