consumer price index

Despite the soaring price of food across the state and nation, UT's Division of Housing and Food Service is trying to keep costs down in campus cafeterias.

The consumer price index for all food is 6 percent higher now than it was in July 2007, according to the Texas Department of Agriculture.

The Department of Labor says inflation is growing at the fastest rate in 17 years. The Consumer Price Index was up about 5.5 percent from a year ago.

Energy and food prices drove the increase in July. With oil prices falling, inflation could slow in August, but the pain may linger.

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From the AP:

The U.S. is wrestling with the worst food inflation in 17 years, and analysts expect new data due on Wednesday to show it’s getting worse.

That’s putting the squeeze on poor families and forcing bakeries, bagel shops and delis to explain price increases to their customers.