The price of bread jumped 11.5% in June compared to a year prior, marking a cost increase nearly four times higher than overall inflation, according to government data.
Here's what to know about which prices are still rising and what's causing the surge.The price of bread jumped 11.5% in June compared to a year prior, marking a cost increase nearly four times higher than overall inflation. The cost of cookies jumped 8.8% over that period, while the price of beer leapt 5.4%, according to government data.
"It begins with the war in Ukraine," Hamrick told ABC News. "And there have been ripple effects from that."On Monday, Russia paused its participation in a key deal allowing for the export of Ukrainian grain, potentially exacerbating the global supply shortage, said David Ortega, a food economist at Michigan State University.
Frozen vegetable prices soared more than 17% in June compared to a year prior, which makes for an inflation rate nearly six times higher than the overall pace. The cost of canned fruits jumped more than 8% over that period, meanwhile, and the price of canned vegetables rose more than 5%, government data showed.
"In the perimeter of stores, we're seeing food prices abating," Ortega said, highlighting the presence of fresh food in that area. "In the center of the store, that's where we're seeing food-price inflation persist."Price hikes also remain sky high for some apparel goods. The prices for women's underwear and swimwear jumped more than 7% in June compared to a year ago; the price of men's underwear climbed over 4% during that period.
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