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Food prices rose 2.2% between July 2023 and July 2024, which is a slower growth than the 4.9% in the 12 months prior, but the costs keep adding up.
Just because the price hikes are slowing, doesn’t mean the long-term consequences of overpriced, poor-quality food doesn’t impact every American. “Even with cooling food inflation, grocery prices are up about 25% compared to 2019,” USA Today wrote of the problem, noting data from the U.S. Bureau of Labor Statistics. (TAKE A POLL: Do You Feel Financially Stable at the Moment?)
“A lot of consumers, they’ll tell us that things are painful specifically because of continued high prices,” University of Michigan’s Survey of Consumers director Joanne Hsu told the outlet. “I think that is understandable. There are a lot of things that remain quite expensive for consumers and are a higher proportion of their monthly budgets than they were before.”
Here’s How Grocery Prices Changed By State (top 10)
- Vermont: 3.1% increase year-over-year
- Hawaii: 2.6% increase year-over-year
- Oklahoma: 2.1% year-over-year
- New Mexico: 2.1% year-over-year
- Alabama: 2.1% year-over-year
- North Dakota: 2% year-over-year
- Pennsylvania: 2% year-over-year
- Maine: 1.9% year-over-year
- New Hampshire: 1.9% year-over-year
- Delaware: 1.9% year-over-year
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