Grocery Prices Are Up for Many Items
In case you haven't noticed, grocery prices are going up on just about everything you want to buy at the grocery store.
Some families are reporting spending $40 dollars more per week on the regular items they buy at the supermarket every week. The U.S, Bureau of Labor Statistics reports we are paying more for a wide variety of items we buy each week.
Beef prices are up 7%, bacon prices are up more than 8% and citrus prices are up nearly 10%. Why are the prices up so much? The demand for groceries during the pandemic went way up as many people were staying home to eat. This drove up the demand for food and put a pinch on suppliers to keep up. That drove up the prices.
You will also see the cost for basics, like diapers and toilet paper to go up. The companies say they are paying more for the raw materials to make these products which is driving up the prices.
When will prices stabilize? Experts say we should see improvements in the next few months. This will change as more people go back out to eat and groceries are not in as much demand.
But gas prices are still up more than 22% from a year ago.
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