- The cost of groceries continues to rise in the United States, climbing another 1 percent over the past month.
- That's according to the Labor Department's Consumer Price Index, which was released on Wednesday. It reveals the overall cost of food has gone up by 12.2 percent since June 2021, marking its biggest increase since 1981. In the past month alone, the cost of dairy products have gone up 1.7 percent; cereals and baked goods have risen 2.1 percent; flour has climbed a whopping 5.3 percent; and butter and margarine have increased by 5 percent, the report indicates.
- The Price Index also reveals the cost of gasoline climbed by 11.2 percent in June for a total increase of 59.9 percent from the same month last year. The average rent has also seen a hike, up by 5.6 percent from June 2021, per the Labor Department.
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