Does food seem more expensive? In April, there was the biggest spike in food prices in 50 years.
According to the consumer price index, in April, the price of food products jumped to the highest level since 1974. In April, Americans paid 2.6% more in shops than in March, according to the Bureau of Labor Statistics. The increase in prices is due to the effects of quarantine throughout the United States.
Meat, poultry, fish and eggs rose the most – by 4.3%. Bread, pastries, pasta and soft drinks increased by 2.9%.
“Where there’s the most demand, prices have risen. Inflation is also driven by more difficult production conditions and supply disruptions,” said Peter Boockvar, investment director at Bleakley Advisory Group.