Sunflowers, war and drought: Why the price of margarine and butter spiked 32%
· Inflation has impacted all groceries, but none more so than butter and margarine in the past year.
· Margarine and butter prices rose 32% in September versus 12 months earlier, according to the latest consumer price index, issued Thursday by the U.S. Bureau of Labor Statistics.
· A complex global trade dynamic for certain commodities and general inflationary trends in the U.S. have contributed.
17/10/2022 (CNBC) - Cue the collective gasp of chefs, bakers and foodies: Food prices are up considerably — but none more so than for butter and margarine.
Prices for these ingredients and spreads jumped 32% in September versus a year ago, the most among all grocery categories, according to consumer price index data issued Thursday.
Specifically, margarine prices popped by 44% and butter rose nearly 27% — substantially more than the 13% annual increase for the overarching “food at home” category, according to the CPI, a key inflation measure.
And those prices may well remain elevated at least through the rest of the year, according to experts.
https://www.cnbc.com/2022/10/17/sunflowers-war-and-oil-why-margarine-butter-prices-have-risen.html