Inflation continues to pinch Americans’ wallets and poses a political dilemma for President Joe Biden, with consumers feeling the pain, especially in the cost of food bought in supermarkets and grocery stores.
While America’s overall annual inflation rate came in at 8.3 percent in August, according to Sept. 13 data from the Bureau of Labor Statistics (BLS), prices in the “food at home” category soared at the fastest pace in 43 years.
The cost of food purchased for consumption at home jumped by an annual 13.5 percent in August, the highest figure in this expenditure category since March 1979.
“Unpleasant surprises aplenty are found in the August Consumer Price Index” or CPI, Bankrate Senior Economic Analyst Mark Hamrick told The Epoch Times in an emailed statement, commenting on the BLS inflation data….