Prices at the grocery store continued to soar last month, adding even more pressure to shoppers’ wallets. The food at home index, a proxy for grocery store prices, increased 0.7% in September from the month prior and a stunning 13% over the last year, according to new government data released Thursday. Just about everything got more expensive in September. Fruits and vegetables surged 1.6% for the month, while cereals and bakery products rose 0.9%. Other groceries increased 0.
“The environment clearly is still very inflationary with a lot of supply chain challenges across the industry,” Pepsi \n \n CEO Ramon Laguarta said on an earnings call Wednesday. The company’s prices increased 17% annually. Meanwhile, demand is high. Consumers may be able to pull back on some discretionary items, but they have to eat. Many people are still working from home and consuming more of their meals there than they did before the pandemic.