Americans paid more for their groceries last month, but high gasoline prices resulting from the Iran war were only one of the reasons why.
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Prices for food eaten at home rose 2.9% in April compared to the same month a year earlier, according to government figures released Tuesday. That was the highest year-over-year inflation rate for the category since August 2023.
Prices at restaurants, fast-food chains and other places to get prepared meals also increased, putting overall food prices up 3.2% in the last year, the Labor Department's consumer price index showed.
Fuel prices have soared while the Iran war prevents cargo ships from passing through the Strait of Hormuz, a vital corridor for global oil supplies. Diesel fuel powers fishing boats, tractors and the trucks that ship 83% of U.S. agricultural products. As of Tuesday, the average price per gallon was up 61% from a year ago, according to AAA.
