• Food prices soared in 2022, and so far there are few solutions on the horizon for 2023.
• The latest Consumer Price Index Data from the Bureau of Labor Statistics found that grocery prices increased 12% in the previous 12 months, far higher than the already elevated inflation rate.
• The BLS index for wholesale prices showed the cost of fresh and dry vegetables skyrocketed this year with a 38.1% increase last month alone. The price for eggs for fresh use rose about 244% in the prior 12 months. A few foods, such as finfish and shellfish as well as beef and veal, saw decreases at the wholesale level, but most others saw double-digit increases.

Tagged: #Bidenflation