A surprising report on inflation this week as the Consumer Price Index showed, for all items in the economy, prices rose eight-tenths of a percent during May and were five percent higher than a year ago. It is the biggest year-to-year jump since 2008.
However for food shoppers, the news is a bit better. USDA economist Carolyn Chellius says "grocery store food prices increased three-tenths of a percent from April to May 2021." which was seven-tenths of a percent higher than May of 2020 when prices really jumped because of COVID related supply chain problems.
Chellius says most of the food price hikes we saw last month came at the meat counter. "We saw a three-point seven percent increase in the price of beef and veal from April to May 2021."
"We saw a one-point-two percent increase in pork and a one-point-nine percent increase in poultry," Chellius adds demand for meat is also expected to rise as the summer grilling season gets underway.
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