Here's what's getting more expensive at the grocery store - CNN

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Milk got 16.4% more expensive, and fruits and vegetables were 8.1% pricier. Restaurant menu prices grew 7.7% in that time period. Here'swhat'sgettingmoreexpensiveatthegrocerystoreByDanielleWiener-Bronner,CNNBusinessUpdated1914GMT(0314HKT)July13,2022JUSTWATCHED'Worsethanweanticipated:'CNNreporterbreaksdowninflationdataReplayMoreVideos...MUSTWATCH(16Videos)'Worsethanweanticipated:'CNNreporterbreaksdowninflationdataRussia'swarinUkrainethreatensoneofEngland'smostfamousdishesSeerebrandedMcDonald'srestaurantsunveiledinRussiaHowAriZonaBeverageshaskepticedteapricesat99centsfor30yearsNewTacoBelldrive-thrurestaurantservestacosusingminielevatorsThefastestgrowingtrendinadultbeverageswillsurpriseyouSeeRussianmerchantship'sjourneyacrossMediterraneanwithstolengrainMotherdescribes'anxietyprovoking'searchforbabyformulaActorsuperglueshishandtoStarbuckscounterinprotestAmericansaretippinglessinthewakeoftippingfatigueForgetoil.Here'showRussia'swarinUkraineisjackingupfoodprices.What'sthatlongskinnythingarestaurantjusttriedsendingtospace?PushaTisn't'lovin'it'anymore.HearhisnewsongforArby'sWendy'sCEO:Expectmenupriceincreasesof5%thisyearWatchCNN's1990coverageofMcDonald'sfirstopeninginRussiaMcDonald'ssuspendsbusinessinRussia.Here'swhyit'sabigdealNewYork(CNNBusiness)Foodpricesarestillontherise,butsomereliefmaybeonthehorizon.Inthe12-monthsendinginJune,overallfoodpricesrose10.4%,thebiggestannualincreasesinceFebruary1981,accordingtodatareleasedWednesdaybytheBureauofLaborStatistics.Grocerypricesjumped12.2%intheyearendinginJune,notadjustedforseasonalswings.Inthatperiod,nearlyeveryindividualitemgotmoreexpensive,withsomecategoriesseeingdramaticincreases.Eggsspiked33.1%,flourjumped19.2%andchickenwentup18.6%.Milkgot16.4%moreexpensive,andfruitsandvegetableswere8.1%pricier.Restaurantmenupricesgrew7.7%inthattimeperiod.ManygroceryitemsgotmoreexpensiveinMay.Priceshavebeenrisingacrosstheboardthisyear,andinflationsurgedtoanewpandemic-erapeakinJune,withUSconsumerpricesjumpingby9.1%year-over-year.TheJuneincreasewaslargelycausedbyajumpingasolineprices,whichwereupnearly60%fromtheyearbefore.Americanssawrecord-highgaspriceslastmonth,withthenationalaveragetopping$5agallon.ReadMoreWhenitcomestofood,an"unfoldingavalancheofproblems"hasledtohigherprices,saidRobFox,directoroftheknowledgeexchangedivisionatCoBank,whichprovidesfinancialservicestoagribusinesses.Tonameafew:Tightmilksuppliescontributedtoasurgeinsomedairyprices.Avianfluhasbeenhikingupthecostofeggs.CommoditiessuchaswheatandcornweredrivenupbybadweatherandthewarinUkraine.Addtothathigherwagesandpackagingcosts,andyougethighlyelevatedfoodprices.WhatchangedinthegrocerystoreinMayFromMaytoJune,adjustedforseasonalswings,anumberofgroceryitemsgotmoreexpensive.Flourpricesjumped5.3%.Buttergot4.8%pricierandmargarinewentup6.8%.Freshbiscuits,rollsandmuffinspopped3.5%,whilefresh-bakedcakesandcupcakesrose2.9%.Shopperslookingtosatisfytheirdessertcravingshadtopaymoreinthefrozenaisle,too—icecreamgot4%moreexpensiveandfrozenandrefrigeratedbakeryproductsgot2.9%pricier.Sugarrose2.1%.Buttherewassomereliefatthecheckoutcounter,especiallyinthemeatdepartment.Beefandvealpricesfell2.3%,porkdropped1.6%andbaconwentdown1.9%.Hotdogswereanoutlier,however,getting4.5%moreexpensive.Inthefreshproducesection,citrusfruitstooka4.5%dip.Whathappensnext?Buttherearesignsthatpricescouldstarttofall."Mypredictionisthatwearerightnowatpeakinflationattheconsumerlevel,"Foxsaid.Partiallythat'sbecausefoodproducers'inputcosts,whichweretrendingupwardlastyear,peakedearlierthisyearandhavebeenfalling,hesaid.Plus,consumersmaystartrestrictingtheirpurchasesorchoosinglower-pricedoptionswhenpossible,cuttingdemandand—eventually—leadingtolowerprices.PreliminarysurveydatareleasedbytheUniversityofMichiganlastmonthshowedthatconsumersentimentslumpedtoarecordlowbetweenMayandJune,suggestingthatsomeshoppersmaybegintochangetheirspendinghabits.Ifpricesdostarttofall,itwon'thappenrightaway,Foxnoted,sayingitcouldtakeanothersixtoninemonthsforpricestodecline.Eventhen,hedoesn'texpectpricetagstodipbelowthelevelsseenthistimelastyear.—CNNBusiness'sLucyBaylyandAliciaWallacecontributedtothisreport.



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