by John Carney
Breitbart.com
The Unwelcome Return of Food Inflation
Just when you thought it was safe to venture back into the grocery stores, food inflation is roaring back.
The producer price index (PPI) for food rose 0.6 percent in July, the biggest increase since February. Annualized, this amounts to a 7.6 percent rate of food inflation. The index tracking finished consumer foods also rose by 0.6 percent following a 0.4 percent increase in the prior month.
There were some very steep increases in prices that American families likely noticed in July. The prices of fresh fruits and melons jumped 10.3 percent. Beef prices jumped 7.7 percent. Pork prices rose 1.8 percent. Coffee prices percolated up 3.3 percent.