Food Prices Up, Up, Up — Highest Prices Since 1979

  • Prices rose sharply again for food and most other items in the month of August even as gasoline prices dropped, newly released inflation data shows.
  • The Bureau of Labor Statistics released its Consumer Price Index Tuesday, which showed a 0.1% increase overall for the month of August. The data, though, shows that a range of items became more expensive but were offset by the recent drop of gasoline prices in recent weeks from record highs in June.
  • “Increases in the shelter, food, and medical care indexes were the largest of many contributors to the broad-based monthly all items increase,” BLS said. “These increases were mostly offset by a 10.6-percent decline in the gasoline index. The index for all items less food and energy rose 0.6 percent in August, a larger increase than in July.”
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