You think food prices are rising? They are!

If you, as I am, are shocked by the cost of groceries, we now have the data.  The Economist has been tracking food prices, in this case for a Fourth of July barbecue.

Its “unappetizing conclusion”—

Across the 25 cities in our sample, the basket now costs an average of $81, 12% more than a year ago, the fastest annual increase in a decade …. That far outpaced grocery-price inflation of less than 3%, reflecting the unusually sharp increases in several items in our barbecue basket…Over the past five years the basket has risen in price by over 40%, roughly twice as fast as median pay across the cities surveyed. The typical worker must now labour 16 minutes longer than in 2020 to afford the spread.

The smallest rises have been in pototoes, with potato crisps (chips), beer, pork sausage, and bread also not going up by much.

The sharpest rises are seen for steak, Coca-Cola (really?), and ground beef.

I wish The Economist would do this for a lot more foods.

Lettuce isn’t doing too badly.  Salads everyone?

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