Stock up: Grocery prices have fallen for eight straight months

Grocery prices in the USA have fallen for eight straight months, underscoring an ongoing food deflation that has supermarkets at war while shoppers reap the benefits. The Bureau of Labor Statistics’ Consumer Price Index showed food-at-home prices fell by 1.6% in July from the same month last year, as CNBC reported. The price of a dozen eggs has dropped by about a dollar on average, according to CBS, with a gallon of milk dropping by about 40 cents and a pound of ground beef dropping by roughly 50 cents. The reason: America keeps producing and stockpiling food even while the demand for it overseas tapers off. This is especially true in places like China, the network noted, where the increasing strength of the U.S. dollar makes American goods more expensive. As a result, the USA could see the longest streak of falling food prices in 50 years...more