Thursday, May 14, 2020

April saw the sharpest increase in grocery store prices in nearly 50 years

Even as the consumer price index dips overall, Americans are seeing record hikes in the prices of meats, vegetables and cereals.

Amid concerns of the spread of covid-19, a little girl wears a mask at El Rancho grocery store in Dallas, Tuesday, May 12, 2020. (LM Otero)

By Laura Reiley

Grocery prices showed their biggest monthly increase in nearly 50 years last month, led by rising prices for meat and eggs, the U.S. Bureau of Labor Statistics reported Tuesday.

U.S. 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, the Labor Department said.

Overall, consumers paid 2.6 percent more in April for groceries, the largest one-month jump since February 1974.  Read more >>