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The higher prices that food makers have been warning about for months have hit U.S. grocery carts.
Seafood prices are up 18.7%, on average, in the 13-week period that ended April 24, while baked goods such as doughnuts and rolls cost about 7.5% more than in the same period last year, new data from NielsenIQ show. In fact, 50 of the 52 categories tracked by the data provider are more expensive than a year ago, with only butter and milk holding essentially flat while everything around them skyrockets.
Rising commodity costs are partially behind the surging prices, with the Bloomberg Commodity Spot Index which tracks 23 raw materials now at its highest level in almost a decade. Surging transport costs and supply chain disruptions are contributing, too, as is a continued bump in consumer demand as more Americans cook at home.
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