Grocery prices jumped the most since 1979 over the past year
The price of groceries continued to soar in the last 12 months ending in August, climbing 13.5% — the biggest increase since 1979. Many food categories saw double-digit 12-month increases, led by eggs, which surged 40%; margarine, up 38%; and flour, which jumped 23%. In its latest monthly food price outlook, the U.S. Department of Agriculture said factors across the economy, including ongoing supply chain issues and higher energy , transportation, and labor costs have contributed to increases in prices across food categories . The price of a dozen large grade-A eggs has now hit a record high of $3.12 — up 82.3% from a year ago. The USDA said an ongoing bird flu outbreak has reduced egg-producing flocks, causing prices to surge. "This outbreak has contributed to elevated egg prices and increasing poultry prices as over 40 million birds, 189 commercial flocks , and 39 States have been affected," the department said. If there’s any consolation, it's that prices could begin...