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Egg prices exploded 60% higher last year. These food prices surged too
The annual inflation rate in the US slowed for a sixth straight month to 6.5% in December of 2022, the lowest since October of 2021. However, it was on top of a 7.0% increase a year earlier. For the year 2022, the annual inflation was 8.0%, which came after a 4.6% rise in 2021. So, average prices soared by nearly 13% in 2022 in two years. And if you look at essential food items, American consumers and restaurants experienced much more severe price hikes. For example, the prices of eggs rose by nearly 60%, butter/margarine by 35%, flour/flour mix by 23%, bread and cereals by 15%, and milk by 12%. Popular breakfast menus like pancakes and omelets seem to have become luxurious dishes for many Americans. Who or what to blame? Russia, energy prices, fertilizer costs, labor, extreme weather conditions, and diseases, avian flu in particular, all affected the prices. Has breakfast become dinner for American families?
Read the article and learn about inflation in the US.
https://edition.cnn.com/2023/01/12/economy/food-prices-inflation-december/index.html
Egg prices exploded 60% higher last year. These food prices surged too
The annual inflation rate in the US slowed for a sixth straight month to 6.5% in December of 2022, the lowest since October of 2021. However, it was on top of a 7.0% increase a year earlier. For the year 2022, the annual inflation was 8.0%, which came after a 4.6% rise in 2021. So, average prices soared by nearly 13% in 2022 in two years. And if you look at essential food items, American consumers and restaurants experienced much more severe price hikes. For example, the prices of eggs rose by nearly 60%, butter/margarine by 35%, flour/flour mix by 23%, bread and cereals by 15%, and milk by 12%. Popular breakfast menus like pancakes and omelets seem to have become luxurious dishes for many Americans. Who or what to blame? Russia, energy prices, fertilizer costs, labor, extreme weather conditions, and diseases, avian flu in particular, all affected the prices. Has breakfast become dinner for American families?
Read the article and learn about inflation in the US.
https://edition.cnn.com/2023/01/12/economy/food-prices-inflation-december/index.html
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