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Grocery prices in July had largest price increase since 1979 — with one food staple rising by 38% on the year

·2 min read
Grocery prices in July had largest price increase since 1979 — with one food staple rising by 38% on the year

The rise in the cost of living cooled in July, but not for grocery prices. The price of consumer goods and services was steady in July from the previous month, as the Labor Department said Wednesday. In July, the inflation rate compared to a year ago was 8.5%, lower than 9.1% in June, a 41-year record, helped by lower prices in energy.