Freezing Thanksgiving pies and boiling beans -- how Americans are coping with rising prices
The Baltimore couple wanted to make sure they could secure the dessert before grocery prices rise any more or the pies disappear from the supermarket. They are paying $5 for almond milk and $7 for cereal, each up $2 in recent weeks, and are shelling out more for eggs, water, juices, broccoli, frozen dinners and other items.Moffatt, 32, is feeling the pinch of consumer price inflation, which has climbed 6.2% over the past 12 months, the biggest increase in more than 30 years.
US inflation rate hits 30-year high 02:41"That's going rapidly due to the rising cost of groceries," said Moffatt, who this week landed an offer for a contract job helping small businesses apply for federal loans.Americans nationwide are contending with surging inflation, particularly for gas, fuel oil, used and new vehicles, and food. Higher prices are eating into pay increases and annual cost-of-living adjustments for Social Security benefits and food stamps.
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