As Gas Dips, Food Bills Soar To 43 Yr Hi

Grocery bills surged 13.1% in July as rampant inflation even took away Purina One beef bags from the shelves cause meat is getting more expensive than gas. Feed Fido lamb instead? Let him drink Exxon instead of Spring H20?

As Fox Business notes, “inflation is crushing the grocery budgets of Americans across the US” with food prices accelerating to a level not seen since 1797, er, 1979 (pardon my dyslexia). “Although the consumer price index, which measures a basket of everyday goods including food, rent and gas, came in cooler than expected at [a ‘mere’] 8.5% in July, food prices [actually] accelerated further,” at least, according to the DOL report on Wednesday. On a monthly basis, that translates into a price surge of 1.4%. How to explain the good news, bad news?

“Consumers are getting a break at the gas pump, but not at the grocery store,” said Greg McBride, chief financial analyst at Bankrate. “Food prices, and especially costs for food at home, continue to soar, rising at the fastest pace in more than 43 years.” Oh, yeah, Greg. Did you try getting out of a McDonald’s with your wife and kids for less than $30 lately? Or, walking away from the local micro-brewery for a light dinner $50 lighter in the wallet?

Davd Soul