Grocery prices reach 50-year high amid pandemic
Category: News & PoliticsVia: john-russell • 2 months ago • 102 comments
By: Charly Edsitty Due (ABC Houston)
KTRK By Charly Edsitty
Due to the coronavirus pandemic, experts say grocery prices are higher than they have been in 50 years.
According to the U.S. Bureau of Labor Statistics, "The food at home index increased sharply in April, rising 2.6 percent...its largest monthly increase since February 1974."
April grocery sales showed a 4% price increase for poultry, meat and fish.
Cereal, baked goods and non-alcoholic beverages saw a 2.9% price increase.
The highest price spike was eggs, with a 16% increase.
Overall, grocery prices increased 2.5%.
Experts say the price increase has to do with supply and demand. Americans are shopping at the grocery store more than ever thanks to stay-at-home orders.
Additionally, some of our county's largest meat suppliers are dealing with coronavirus spreading inside their facilities and have been forced to close.
If you had plans for a cookout on Memorial Day, be ready to pay up.
One local grocer says hamburger meat prices have jumped.
"Last year, Memorial Day, our hamburger prices were $3.99 a pound. It's gonna be $5.99 a pound this year," he said.
However, there are still ways you can save on groceries during this time.
If you're ordering online, try to do it with a neighbor or friend to split delivery costs or even get it for free.
You can also sign up for store rewards programs and look around online for coupons you can show in store on your phone.
Unfortunately, many grocery stores are not offering weekly specials anymore because demand is so high.