Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’
Important Takeaways:
- Nearly 70% of Americans struggling to pay grocery bills, survey finds
- Food inflation continues to surge
- Retail technology platform Swiftly reported Wednesday that 69% of shoppers say they are struggling to pay their grocery bills after months of persistently sky-high inflation
- And 83% currently rely on some form of coupons or loyalty program to put food on the table, according to its True Cost of a Grocery Shop survey.
- The Labor Department’s latest consumer price index showed prices rose an average of 7.7% on an annual basis in October, hovering near a four-decade high. But the cost of food at home soared 12.4% over the same month a year ago.
- Some staple items rose by eye-popping amounts, with coffee up 14.8%, cereal up by 16.9%, and eggs up by a staggering 43%.
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