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In April, the prices Americans were paying for their groceries spiked by the highest percentage seen in nearly 50 years.
Today, the Labor Department reported that prices for groceries—also referred to as the “food at home” index—across the United States jumped by 2.6% in April, the highest single-month bump since February 1974, according to CNBC.
The spike in grocery prices is likely directly correlated to the spike in demand for the product. Grocery stores have been some of the only retailers around the country to keep their doors open during the coronavirus pandemic.
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