To feel the effects of inflation, just go to the supermarket.
Although inflation, overall, began to ease last month along with gas prices, food costs climbed 1.1% in July, bringing the year-over-year gain to 10.9%, according to the latest Consumer Price Index figures.
The food-at-home index, a measure of price changes at the grocery store, notched the largest 12-month increase since 1979.
Cereals and baked goods cost 15% more than they did last year. Milk and dairy products are 14.9% higher, and fruits and vegetables are up 9.3% over the year.
More from Personal Finance:
What a recession could mean for you
Best money moves after the Fed’s interest rate hikes
Nearly half of all Americans are falling deeper in debt
“Consumers are getting a break at the gas pump, but not at the grocery store,” said Greg McBride, chief financial analyst at Bankrate.com. “Food prices, and especially costs for…
