Dive Brief:
Food inflation has jumped 11.3% during the past year, according to the latest Consumer Price Index from the Bureau of Labor Statistics.In January, grocery prices increased 0.4%.The rise last month was driven by eggs, which rose 8.5%, and cereals and baked goods, which increased 1%.Price increases are "not resetting as quickly, or as uniformly, as consumers would like," and will likely remain "elevated in the short term with continued volatility," according to an emailed statement from Andy Harig at the Food Industry Association.
Food inflation has jumped 11.3% during the past year, according to the latest Consumer Price Index from the Bureau of Labor Statistics.In January, grocery prices increased 0.4%.The rise last month was driven by eggs, which rose 8.5%, and cereals and baked goods, which increased 1%.Price increases are "not resetting as quickly, or as uniformly, as consumers would like," and will likely remain "elevated in the short term with continued volatility," according to an emailed statement from Andy Harig at the Food Industry Association.
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