(DCWatchdog.com) – BREAKING: As the latest report released this morning shows inflation continues to surge across the United States, one area is of particular concern — the price Americans are being forced to pay for food.
Specifically, according to just-released data, food costs posted their highest 12-month increase since 1979. Most Americans have never experienced inflation at the levels currently hammering consumers.
As the New York Post notes this morning in, “Inflation surges 8.5% in July despite drop in gasoline prices“:
“Inflation surged 8.5% in July, hovering at a four-decade high despite a drop in gasoline prices and adding pressure on the Federal Reserve to bring down the price of necessities…
“In a sign that broad price pressures continue to hammer the US economy, core inflation, which excludes volatile food and gas prices, increased by 5.9% annually and by 0.3% compared to June.” [emphasis added]
And here is the exceptionally bad news about the cost of food.
“…food prices continued to rise, jumping 10.9% compared to the same month last year and 1.1% compared to June. Food costs posted their highest 12-month increase since 1979.” [emphasis added]
THIS IS A BREAKING NEWS REPORT FROM THE DC WATCHDOG.
What is your opinion about the rate of inflation in the United States? Is the rising cost of food impacting your budget? Who or what is to blame, in your opinion? Please share your thoughts and views by emailing [email protected]. Thank you.