It seems like every time I go into the grocery store to get a thing or two it’s a decent amount of money. It’s not your imagination either. This summer is making your bank account say “ouch”. If your grocery bill is larger than usual, you’re not alone. In fact, you’re paying more for certain foods. According to NBC News, a “side effect” of the pandemic was that prices rose for the third consecutive month in June as demand outstripped supply. Based on the latest data from the US Bureau of Labor Statistics, here are 5 foods that have skyrocketed in price compared to last year at this point.
- Bacon – up 15.6%
- Whole milk – up 11.2%
- Eggs – up 5.7%
- Ground coffee – up 1.9%
- Bananas – up 1.2%
On the other hand, the prices of flour and potatoes have actually fallen since last summer. So what I’m gathering is that I should probably stay away from breakfast for the foreseeable future. Don’t let the word “shortage” get into the mouths of too many people and we will see scarcity just as we say with toilet paper. Interestingly, these “pandemic-related” impacts will occur 15 months after the pandemic began. It turns out that consumers’ need to eat out more is part of the reason for the price increase.
Have you noticed that you’ve been paying more for these or other foods lately? Between grocery store and restaurant food, gas prices, and everything else I might have to ‘order at home’ for the second summer in a row.