Climate Change Alarmism ‘Fuels’ Food & Energy Inflation
“Food inflation in the United States accelerated for a 13th straight month to 10.4% in June of 2022, the biggest increase since February of 1981. The food at home index rose 12.2%, the largest 12-month increase since the period ending April 1979. All six major grocery store food group indexes increased over the span, with five of the six rising more than 10%. The index for food away from home rose 7.7%, the most since November 1981.
Cost of energy in the US jumped 41.6% year-on-year in June of 2022, the largest 12-month increase since April 1980, and boosted by gasoline (59.9%, the largest increase since March 1980), fuel oil (98.5%), electricity (13.7%, the largest increase since April 2006), and natural gas (38.4%, the largest increase since October 2005).”
Originally published here by Trading Economics on 15 July 2022.
Source: U.S. Bureau of Labor Statistics