Food Prices Skyrocket in May
Consumer prices are up sharply in May as the Federal Reserve continues to pump money into the economy with no end in sight. From USA Today:
Consumer prices last month posted their sharpest increase in 15 months as inflation continued a recent acceleration from unusually low levels.
The rise in prices was broad-based, with food, energy, housing, apparel and other costs among those increasing. Food costs jumped 0.5%, the largest increase since August 2011, as meat, poultry fish and eggs rose 1.4% and fruits and vegetables rose 1.1%.
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