Not since 1974 have grocery store prices surged 2.6 percent in just one month. That just happened in April, according to new data released by the U.S. Bureau of Labor Statistics on Tuesday, as CNBC reported.
Prices Americans paid for eggs, meat, cereal and milk all went higher in April as people flocked to grocery stores to stock up on food amid government lockdowns designed to slow the spread of Covid-19, according to CNBC.
The largest increases were for meat and eggs. Consumers paid 4.3 percent more in April for meats, poultry, fish and eggs, 1.5 percent more for fruits and vegetables, and 2.9 percent more for cereals and bakery products, as well as nonalcoholic beverages, the Labor Department said, as The Washington Post reported.
The rise in food prices adds to worrying news as more than 20 million people joined the ranks of the unemployed and one in five American households experienced food insecurity, according to The Washington Post.