On a year-to-year basis, inflation was 5.4 percent in July of 2021, the largest increase since 2008, and there are expectations that the consumer price index (CPI) could continue to rise through the rest of the year. But while the recent sharp rise in overall inflation in the last two months has gotten significant attention, food prices were already seeing a significant rise beyond the rate of inflation over the last ten years according to survey data from the Bureau of Labor Statistics (BLS).
Significant Increase in Food Price Inflation…
On a year-to-year basis, inflation was 5.4 percent in July of 2021, the largest increase since 2008, and there are expectations that the consumer price index (CPI) could continue to rise through the rest of the year. But while the recent sharp rise in overall inflation in the last two months has gotten significant attention, food prices were already seeing a significant rise beyond the rate of inflation over the last ten years according to survey data from the Bureau of Labor Statistics (BLS).
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