Food Prices Soar 25% Since Pandemic While Wage Growth Lags
- Overall food prices up 24.7% since March 2020, outpacing 20% rise in overall inflation
- President Biden blames companies for "ripping people off" with high prices
- Bananas (up 4.6%) and tomatoes (up 1.1%) had smallest price increases since pandemic
- Margarine prices up most at 54.1%; egg prices up 35.6% after peaking at near double
- Federal officials predict slower food inflation ahead, 1.6% in 2024 vs 5% in 2023
