Stretch Your Dollar: Grocery prices are rising and will get passed onto the consumer soon

Stretch Your Dollar

(GMA) — If you’ve been inside of a supermarket in the last six months, you’ve likely felt it: sticker shock. Grocery prices are rising, and they’re predicted to continue climbing through the end of this year. We are stretching your dollar with what to look for.

Kroger, one of the largest grocery chains in the country, said that their inflation will soon become customers’ inflation in the coming months.

One of the biggest culprits is meat prices. Beef is up 14% so far this year. Pork prices versus last year are up 12%. Poultry prices are up 6.6%.

It’s also in the fresh fruit aisle, where those prices are up 5.2% from last year. One of the few areas that have seen price decreases over the last year is fresh vegetables, which are down 0.6% in prices.

But the overall story here is supply shortages. Experts report seeing issues with the supply chain and labor shortages. Also, the cost of transportation and warehousing is rising.

Kroger even said it’s dealing with theft, and that’s driving up prices as well.

The weather is a factor too! Big storms recently have led to some supply shortages, which in turn increases prices for consumers.

It’s important to be aware of the price changes and plan for that to impact your bottom line over the coming months. Maybe get back to using those apps and digital coupons to offset the costs.

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