Grocery Prices Balloon 13.5% in August YOY Marking Largest Increase Since March 1979, General Mills Reports 14-15% Cost Increase

Per CNN

The price of groceries surged by 13.5% in August compared to its prices year-over-year. This is the highest annual increase recorded since March 1979.

IRI, a market research company, expects food inflation to increase by between 5% and 10% next year. General Mills, the company behind Cheerios, expects its costs to increase by 14% to 15% for its 2023 fiscal year.

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