Food prices have risen at the fastest pace in more than 40 years and food makers and consumers are scrambling to find ways to mitigate the impact, The Wall Street Journal reported.
What Happened: Store-bought food prices rose at a seasonally adjusted 2.6% in April, marking the biggest monthly gain since 1974, according to WSJ. May data is scheduled to be released Wednesday and could show an acceleration in growth.
Food prices rose 5.8% for the 13-week period ended May 30, according to data from market research firm Nielsen.
This is partly due to companies buying new equipment, remodeling factories and configuring stores to better keep people safe from the COVID-19 pandemic…CLICK for complete article