Inflation appears poised to gobble up this year’s Thanksgiving budgets, as U.S. food prices continue to soar.
The cost of all food climbed 11.2% in September compared with last year, with the cost of food at home like groceries climbing 13% year on year.
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Leading the food price increases over the past 12 months: margarine, up 44%; flour and prepared flour mixes, up 24.2%; frozen and refrigerated bakery products like pies, tarts and turnovers, up 20.4%.