U.S. Grocery Prices Experience Sharpest Increase Since 1974

May 14, 2020

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According to U.S. Bureau of Labor Statistics released Tuesday, grocery prices experienced their sharpest rise since 1974 in April. The Washington Post reports that U.S. consumers paid 4.3 percent more for meats, poultry, fish, and eggs; 1.5 percent more for fruits and vegetables; and 2.9 percent more for cereals and bakery products--leading to an overall monthly increase of 2.6 percent. The jump in food prices came in a month when more than 20 million Americans lost their jobs, driving one in five households into food insecurity. “It’s a tipping point for people who are already really struggling with resources,” says Geri Henchy, director of nutrition policy for the Food Research & Action Center. “Their budgets are taxed and now add increases in the price of food."