NEW INFLATION DATA WORSE THAN EXPECTED
BLS: Inflation in price of food is highest since 1979.
The Bureau of Labor Statistics on Tuesday released new economic data showing that prices on all items increased by 8.3% from August 2021 to August 2022, with the price of gasoline rising 25.6%, the price of electricity rising 15.8%, and the price of food rising 11.4%. The year-to-year increase in the price of food was the highest in 43 years.