Inflation is cooling, but food prices remain stubbornly high, led by typical school lunch supplies.
Groceries like bread, ham, lettuce, condiments, apples, and juice cost up to 15% more than last year.
The lunchbox price increases are even more striking when compared against 2020: Bread prices alone have risen nearly 30%.
That has sent wheat prices higher, which in turn raises prices that consumers pay, economist Paul Krugman noted.
At the same time, many reported increased profits, a sign that the higher prices weren't always about offsetting higher costs for inputs like ingredients and labor.
Persons:
Paul Krugman, Nestle
Organizations:
Service, US Bureau of Labor Statistics
Locations:
Wall, Silicon, Ukraine