Inflation is 8.3 percent higher than it was one year ago. According to the U.S. Bureau of Labor Statistics, the energy index declined in April, but there are increases in the indexes for shelter, food, airline fares and new vehicles. The food index increased 0.9 percent, with the index for dairy and related products increasing 2.5 percent. That’s the largest monthly increase since July 2007. The index for meats, poultry, fish and eggs increased 1.4 percent.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.