Inflation: Here’s how much grocery prices rose in April

Yahoo Finance’s Brooke DiPalma joins the Live show to discuss how inflation is driving grocery prices higher.

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BRIAN CHEUNG: --while the April CPI also showed a run up in food costs, prices rising 9/10 of a over the last month, that's at 17th consecutive monthly increase. Joining us now with more is the Finance Brooke DiPalma. So Brooke, breakdown the cost of specifically what's in a grocery bag, and Akiko and I were talking about that loosely, but look, Americans certainly feeling this at the grocery store.

BROOKE DIPALMA: That's right, Brian. Americans are certainly going to feel the pinch next time they're at their grocery store as inflation continues to take a toll at specifically the food at home category. Now, it's up a whopping 10.8% year over year. I spoke to an economist at the Bureau of Labor Statistics, and he noted that this is the highest rise since 1980, Brian and Akiko, so quite some time since we've seen prices like this.

Year over year, cereals and bakery products up 10.3%. Really leading the increase here-- meats, poultry, fish, and eggs, really the focus of today, up a whopping 14.3%. Dairy and related products up 9.1%, fruits and vegetables up 7.8%, non-alcoholic beverages and beverage materials up 9.8%. And this category, other food at home-- now, Brain and Akiko, that's butter, that's oils, that sugars, that's processed food, it's up 11%, but it's also includes baby food. We've been seeing that and focus on headlines across this whole entire week as shelves really see shortages of baby food across the nation.

Now, I also want to specify that I spoke to another economist on Wall Street. And he told me the food and energy prices are remaining pressured from the fallout of that crisis over in Ukraine, as well as trade disruptions that are stemming from China's ongoing lockdowns, really taking a toll on core goods inflation. So what exactly does this mean for the grocery cart prices? Let's take a look at that.

The average prices for the household groceries are as follows-- chicken, you're going to see $1.79 per pound, eggs a whopping $2.52 per dozen, 100% ground beef $4.95 per pound, milk $4.01 per gallon. Now, if we head over to another aisle in the grocery store-- bananas $0.64 per pound, oranges $1.51 per pound, a higher cost there, bread also higher, $1.61, and tomatoes, of course field grown there, $1.79 per a pound.

Now, you guys did talk a bit about the eggs at the top of the show. Month over month, we also saw a spike in price of 10.3%, and that's as the highly contagious bird flu hits US farmers across the nation. What this means for grocery stores-- well, we'll certainly have to see in the upcoming quarter.

AKIKO FUJITA: Yeah, it feels like the perfect storm for all these products. Thanks so much for that, Brooke.