Inflation may generally reduce, but grocery prices are still too high.
According to the US Bureau of Labor Statistics statement on Wednesday, Food prices rose 13.1% over the past 12 months, which is the highest annual gain since the year ended in March 1979.
The prices of almost all groceries have skyrocketed in the last year.
Egg prices increased by 38%, along with other commodities: bacon prices increased 9.2%, ground beef 9.7%, milk 15.6%, chicken 17.6%, flour 22.7%, and vegetable and fruit prices increased up to 9.3%.
Different factors increase food prices, including the spread of bird flu in the US, a shortage of eggs, and the Russia-Ukraine war that sent spring wheat prices skyrocketing.
The product's costs are reducing slowly, but it will take time for these low costs to be passed on to consumers.
According to CEO Todd Penegor, approximately 82 percent of meals were eaten at home before the pandemic, and that number has since increased by 3% and is still there today.
Grocery stores are also increasing prices, but at a slower pace: menu costs increased 7.6% in the last 12 months to July, which is lower than total inflation.
The director of the exchange division at CoBank, Rob Fox, gave financial assistance to the agribusiness and said the US government does not contain a stock of food like fuel.