The price consumers paid for groceries jumped 1.4% in February, helping to drive an overall increase in the Consumer Price Index of 7.9% over the past 12 months, the largest in 40 years, the Bureau of Labor Statistics reported Thursday.
Republicans on the House Agriculture Committee are raising concerns the Biden administration is putting too much emphasis on promoting climate-related ag practices, with one GOP member suggesting the policy was increasing food prices.
Higher prices for meat and other foods are helping fuel the inflation that is pinching consumers. Supermarket prices rose 0.8% in June, driven by a 2.5% increase for meat, poultry, fish, and eggs. Beef prices rose 4.5% last month.
WASHINGTON, July 12, 2107 - Global food commodity prices rose in June, led by wheat and meat prices, according to the FAO Food Price Index compiled by the U.N.’s Food and Agriculture Organization (FAO).