Inflation is eating away at customers’ budgets as prices soar from fuel to commodities, including food. Even the most recent numbers from the U.S. Bureau of Labor Statistics echo the same trend of increasing food prices. According to data from the U.S. Bureau, the Consumer Price Index (CPI) went up 1% in May on a seasonally adjusted basis. This rise in CPI was “broad-based,” with the food index increasing 1.2% in May. This data also indicated that grocery prices rose 11.9% year-over-year, the largest yearly increase since April 1979, while prices at restaurants went up 7.4% year-over-year, the largest yearly hike since November 1981.
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Mondelez (NASDAQ:MDLZ)
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