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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.