The producer price index for food rose 0.6 percent in July, the biggest increase since February. Annualized,. The index tracking finished consumer foods also rose by 0.6 percent following a 0.4 percent increase in the prior month.
78 percent of registered voters say inflation has been one of the three biggest sources of personal financial stress This July surge is likely to be all the more troubling for voters because they were told that food inflation was a thing of the past. Food prices, as measured by the PPI, rose mildly in March and actually declined in April and May. But they rose 0.4 percent in June and then accelerated again last month. This suggestsin reality than the rosy projections of journalists, economists, and Democrat politicians telling us that we conquered food inflation.
We believe in a future where we lower the cost of living for America’s families so they have a chance not just to get by but to get ahead. Because, look, while our economy is doing well by many measures, prices for everyday things like groceries are still too high. You know it and I know it.
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