Americans are facing grocery store price hikes at levels not seen since the 1970s
Americans are facing grocery store price hikes at levels not seen since the inflation-soaked 1970s, with double-digit increases on everything from eggs to poultry, according to the latest Consumer Price Index from the Labor Department.
Friday's inflation report was a triple-whammy for consumers, with massive price hikes in food, shelter and energy -- sectors that make up the majority of household expenses -- as well as in almost every other category. But some of the starkest increases were in the food-at-home sector, where the cost of groceries surged by almost 12% for the year ending in May. That's the largest year-on-year increase since 1979.
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