Food inflation rate is lowest in nearly two years
The U.S. food inflation rate, on the decline since last fall, has fallen to 4.9 percent, aided by the second month in a row of modestly lower prices for meat, poultry, fish, and eggs, said the government on Thursday. It was the lowest food inflation rate since September 2021.
Beef fuels biggest increase in grocery prices in nearly a decade
Grocery prices climbed by 5.6 percent, their largest 12-month increase since December 2011, although the U.S. inflation rate is a mild 0.6 percent, said the Labor Department on Tuesday. Beef prices skyrocketed by 25 percent, with most of the increase in the past three months when coronavirus …