According to the Reports, the price of the cereals and bakery products have been jumped to 11.6 percent year-over-year and also marking the biggest increase since the month of July, 1981 and it has likely been impacted by the increasing prices of the fats and oils and is increased by 16.9 percent as compared to a year ago along with butter and margarine increased by 20.2 percent.
The inflation in the United States has hit a 40-year high in May 2022, along with the people of the United States by paying significantly more money for food, and the Consumer Price Index (CPI) has been increased by 8.6 percent as compared to a the CPI a year ago.
The cost of the food has been increased by 10.1 percent, which has been the sharpest year-over-year gain since the month of March 1981 and during the at-home category has been increased by 11.9 percent, which has been the highest increase since the month of April 1979.
Before the season adjustment, the May index for the cereals and bakery products had been 319.9 percent of the average 1982-1984 and the at-home food category had been 285.9, which is 11.9 percent from the month of May 2021.
In the United Kingdom, the fresh food prices has been increased by 4.5 percent in May 2022, which has been the highest acceleration rate in over a decade and the consumers have also been warned for facing the future pain as the retailers are forced for passing on the cost of the increasing energy supplies and bills.
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