Numbers Don’t Lie: Food prices are inflated and could stay that way
Retail food prices have increased 9 percent in the first seven months of the year. Since 2001, the average for the same monthly time frame is only 1.7 percent.
This chart, provided by USDA, shows how each category grew. All 13 food categories rose faster this year than during the same time last year. Eggs are up more than 20 percent, with fats and oils just above 13 percent. Poultry came in at nearly 12 percent higher.
The Agency warns prices will continue to fluctuate for the rest of the year and could affect the annual inflation rate.