Inflation Update: Food Prices Keep Spiking, With Eggs Up Over 30 Percent, Flour Up Over 24 Percent

Started by Epoch-Times-Bot, Oct 14, 2022, 09:00 AM

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Epoch-Times-Bot

Oct 14, 2022, 09:00 AM
Inflation Update: Food Prices Keep Spiking, With Eggs Up Over 30 Percent, Flour Up Over 24 Percent

Inflation continued to run near a multi-decade high of 8.2 percent last month but a deeper dive into the Consumer Price Index (CPI) data shows that some goods—including everyday essentials like food—saw far sharper price jumps.
The Bureau of Labor Statistics (BLS) reported on Oct. 13 that annual inflation in the United States in September was running at 8.2 percent, down slightly from August’s pace of 8.3 percent.
An alternative measure of CPI inflation that uses the same methodology BLS used back in the 1980s puts the figure at a far higher 16.4 percent year-over-year in September.
While the government’s official inflation data shows that American households got a bit of relief in some categories—like the cost of recorded music and music subscriptions falling 1.2 percent year-over-year and 0.2 percent month-over-month—the cost of basic necessities continued to spike....

Source: Inflation Update: Food Prices Keep Spiking, With Eggs Up Over 30 Percent, Flour Up Over 24 Percent

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