Grocery Prices Experience Biggest Jump In 46 Years

The US Lab0r Department announced that prices paid by US consumers for groceries rose by 2.6% in April, the largest single-month spike since February 1974. The rise in grocery prices stands in contrast with an overall decline in US prices, which fell 0.8% in April.

Prices for meat, poultry, fish, and eggs saw the biggest rise in the grocery category, shooting up by 4.3%. Cereals and bakery products rose 2.9%, and fruits, vegetables, and dairy products all went up 1.5%.

The reason for the rise in grocery prices is being attributed to greater demand for homemade food during the pandemic, as well as a national food supply chain that was slow to react to the coronavirus pandemic. Consumers panic-buying large quantities of food that they don’t immediately need is sending prices higher, as well. Economists say the worst is not yet behind us, with grocery prices expected to continue rising over the next year.

The restaurant industry is expected to be hardest hit by the rise in prices, as many Americans will likely opt to save money by eating homemade food instead of going out to eat.

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2 COMMENTS

  1. Before spreading anxiety,it’s important to remember that on Rosh Hashana, H-shem determines “mezonosav” of a person, not “dmei mezonosav”. Its not a budget that is given to spend at your discretion. Rather, it is the buying power of what is allotted to you.

  2. I went to Shoprite and the ad was 4 pages, just 1 piece of paper. High prices and no sales. I remember $150 in groceries lasting me a lot longer than this trip will. The prices were insane.

    The worst part is knowing that even when they get the food supply straightened out, we will be so used to paying these prices that they have no reason to lower them, they’ll just make more profit.

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