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Americans’ Grocery Bills Set to Reach New Highs on Food Inflation

  • Finished consumer food prices up almost 16% from last July
  • Egg prices jumped 44.2%, plus big increases for beef and veal
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US Producer Prices Cool More Than Expected

US consumers are already grappling with historically high food prices. It still stands to get worse.

Prices paid to US producers for finished consumer foods jumped nearly 16% in the year through July, the biggest surge since 1974, according to Labor Department data released Thursday. A good chunk of that was due to a 44.2% rise in the cost of eggs, plus substantial increases in the prices of fresh and dry vegetables as well as beef and veal.