CHARLOTTE, N.C. — The price of groceries has risen more than 13% from last year, marking the largest 12-mont increase since 1979, new data from the U.S. Bureau of Labor Statistics shows.
The new numbers painted a very grim picture when it comes to food costs. Even the basics require a bigger budget thanks to the historic price increase over the past year.
How much more are we talking? Well, if you want to buy eggs, you're paying 39.8% more than you did just a year ago. Milk is up 17% and bread costs 16.2% more than it did this time in 2021.
Those essentials aren't the only items going up. In fact, of the more than 100 grocery items tracked by the Bureau of Labor Statistics, only two are less expensive than they were last year: uncooked beef steaks and tomatoes, and the savings aren't much.
Steaks are down 3% and tomatoes aren't down even a penny on the dollar, dropping a measly 0.2% compared to last year.
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So what can you to do save money? One expert recommends buying more store brands. Those private labels can be up to 25% cheaper than their name-brand counterparts.
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