From April to May, adjusted for seasonal swings, grocery prices got 0.1% more expensive, according to the Bureau of Labor Statistics’ Consumer Price Index, a key measure of inflation. Menu items got 0.5% in that time. Overall, grocery prices were 5.8% more expensive in May than they were a year ago. Menu prices have risen 8.3% over the past year. Together, food prices jumped 6.7% throughout the year, once again outpacing overall annual inflation, which came in at 4%.
3%, fresh whole milk dropped 3.4%, pork chops fell 2.2%, and fish and seafood fell 1.1% over the course of the year. Egg prices are in historic decline Even though grocery prices ticked up overall from April to May, a number of individual items got cheaper — notably, eggs. The item, which was soaring earlier this year, dropped 13.8% last month — the largest single-month price decline since January 1951. A highly contagious bird flu reduced the number of egg-laying hens last year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US retail sales rose in May | CNN BusinessSpending at US retailers rose last month, in a sign that consumers are still fueling the economy.
Source: CNN - 🏆 4. / 95 Read more »
Tim Cook bets his legacy on augmented reality | CNN BusinessTim Cook has for years extolled the promise of augmented reality, touting its potential to help people communicate and collaborate with each other.
Source: cnni - 🏆 326. / 59 Read more »
UK employment hits record high but the economy is still short 1 million workers | CNN BusinessThe number of people in work in the United Kingdom has climbed above its pre-pandemic level for the first time, reaching a record high. But that hasn’t plugged worker shortages that are pushing up wages and making Britain’s inflation problem harder to solve.
Source: cnni - 🏆 326. / 59 Read more »
Instant Brands, maker of Instant Pot and Pyrex, files for bankruptcy | CNN BusinessInstant Brands, the maker of Instant Pot, Corelle, and Pyrex, among other products, has filed for bankruptcy.
Source: CNN - 🏆 4. / 95 Read more »
Workers are historically stressed out and disengaged | CNN BusinessBored at work? Annoyed with your boss? You’re not alone. A new poll reveals that workers around the world are historically stressed, disengaged with their work and increasingly fighting with their bosses.
Source: CNN - 🏆 4. / 95 Read more »
Amazon Web Services hit by wide-ranging outage, impacting major websites | CNN BusinessAmazon Web Services was hit by a wide-ranging outage on Tuesday afternoon that impacted a large number of major websites, including the Boston Globe and New York City’s Metropolitan Transit Authority.
Source: CNN - 🏆 4. / 95 Read more »