Although inflation has fallen for seven straight months, prices for the food we eat at home — a major part of every American’s budget — continue to rise, according to CBS News.
Grocery inflation picked up in January, even as overall U.S. prices fell slightly from the previous month, according to federal labor data. Prices for food at home — what people buy at retailers to prepare their own meals — jumped 11.3% in January from a year earlier, according to the Labor Department.
Many of our neighbors continue to feel the pinch. Seniors and low-income households are among the most hurt by high prices in the grocery aisle. Although Social Security recipients received an 8.7% cost-of-living increase for 2023, the bump still lags food costs, while the poor generally spend a greater share of their overall earnings on food.
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