Washington – Already dealing with the economic fallout from a protracted pandemic, the rapidly rising prices of food and other key commodities have many fearing that unprecedented political and social instability could be just around the corner next year.
With the clock ticking on student loan and rent debts, the price of a standard cart of food has jumped 6.4% in the past 12 months, according to the Bureau of Labor Statistics, with the cost of eating out in a restaurant similarly spiking, by 5.8% since November 2020.
The most notable change has been in the price of meat, with beef costing 26.2% more than it did last year, pork 19.2% more and chicken 14.8% more. Bacon prices have reached historic levels, and are now 36% higher than in 1980, even after adjusting for inflation.
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