Per its most recent report, the overall cost of food increased by 11.4%. Similarly, the food-at-home category went up 13.5% on a year-over-year basis.
In the case of the overall food category, this represents the sharpest increase since May of 1979. However, for the food-at-home category, this is the largest increase since March 1979, per Steve Reed, a US Bureau of Labor Statistics (BLS) economist.
From July to August, the grocery costs surged 0.7% month-over-month. According to a Yahoo Finance Report, cereal and bakery products were leading the way in boosting inflation with an increase of 16.4% on a 12-month timeframe. Flour and prepared flour mixes increased by 23.3%
