It should be no surprise food costs are ramping up this summer.
This week’s Consumer Price Index shows prices in June rose seven-tenths of one percent. According to Carolyn Chelius, USDA economist, says the average inflation is usually about two-tenths of a percent. The numbers we’ve been seeing so far this year add up to 2.3%.
The economist says when it is all said and done we could be looking at a price increase of around 2 ½ to 3 ½ percent in our food budget. Last year as COVID expanded prices rose by 3 ½ percent.
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