Meat, Eggs Cost More As Overall Prices Decline

Your trip to the grocery store is costing you more.

Prices paid for meat, eggs, cereal, and milk all spiked in April, the first full month of the closures brought about by the pandemic.

The Labor Department reports that grocery prices were up 2.6% in April, the biggest one-month climb since 1974 and the oil crisis.

Meat, poultry, fish, and eggs were up 4.3%, fruits and veggies climbed 1.5%, and cereal and bakery products were up 2.9% in April.

Outside of sticker shock at the supermarket, overall prices actually fell 0.8% in April, their biggest one-month decline since the Great Recession. Lower gas and oil prices are credited with dragging down inflation.

Excluding the volatile food and energy components, the so-called core Consumer Price Index dropped 0.4%, its largest slump ever through records kept since 1957.

Image courtesy Getty

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