The overall signs of inflation are better than they were a year ago, but I gotta say this is not encouraging:
A better-than-expected inflation report last week bolstered hopes that a prolonged bout of severe price hikes is near its end -- but the costs of some staple items continue to soar. ...
The price of bread jumped 11.5% in June compared to a year prior, marking a cost increase nearly four times higher than overall inflation. The cost of cookies jumped 8.8% over that period, while the price of beer leapt 5.4%, according to government data.
Cookies, I gotta say, I could take them or leave them. Or just make my own. A fresh-baked cookie is always going to be better than the Chips Ahoy that have been sitting on the grocery shelf for three months. We both know it.
But bread? That's elemental stuff. That's a freakin' necessity. And beer? Why, beer is just liquid bread. It's equally necessary. Don't try and convince me otherwise.
The ongoing spikes are reportedly being driven by the ongoing Russia/Ukraine war, which is having a ripple effect on grain prices throughout the world; high transportation costs are also having an effect.
Frozen vegetables, meanwhile, have jumped a whopping 17% year-over-year, though fresh produce is experiencing significantly lower inflation.
Perhaps most surprisingly among the consumer items experiencing inflation: Men's underwear.
"I did purchase underwear myself recently and literally made a comment to the store clerk saying it's getting expensive to wear underwear these days but there's no alternative."
I agree. Don't stop wearing underwear, folks.