Prices for groceries jump 2.6% in April, the largest one-month increase since February 1974.

  • The Labor Department reported the spike of 2.6% in supermarket prices on Tuesday.
  • Prices Americans paid for eggs, meat, cereal and milk shot higher in April as people flocked to grocery stores to stock up on food amid government lockdowns.
  • The price of the meats, poultry, fish and eggs category rose 4.3%, fruits and vegetables climbed 1.5%, cereals and bakery products advanced 2.9%, and dairy goods gained 1.5%.
  • The grocery numbers stand in stark contrast to the broader trend in U.S. prices, which fell 0.8% in April.