(WTNH) – New year, new higher grocery bills as shoppers see prices they haven’t seen in years.
The price of milk is 4.6 percent higher than a year ago, bread is up 4 percent, and poultry, fish, and eggs are 13 percent higher. As consumers deal with the shock, even higher prices are coming right away.
According to the Wall Street Journal, big food companies like General Mills and Kraft-Heinz are planning more price increases to wholesalers on everything from mustard to cereal to Jell-O.
As they pass along their own perfect storm of risings costs like higher transportation expenses because of rising oil prices, higher prices for animal feed, payroll costs pushed up because labor is shot, and the havoc the pandemic has brought to the grocery supply chain.
“You can’t really wave a magic wand and just sort of fix the supply chain problem,” said Jason Goldberg, Chief Commerce Strategy Officer.