Current Events > Get ready for higher grocery bills for the rest of the year

(+) Yeah! (+)

https://www.nbcnews.com/business/consumer/get-ready-higher-grocery-bills-rest-year-n1263897

Shoppers had better start budgeting more for their groceries, according to the latest consumer price index, which shows prices are increasing and they're likely to keep going up. The monthly consumer price index, released by the Bureau of Labor Statistics, showed a 0.6 percent increase in March, the largest one-month increase in nearly a decade. Over the past year, prices have increased by 2.6 percent overall. The spike comes on the back of prices that had already risen during last year's pandemic stockpiling and supply chain disruptions and never went down. Consumers are noticing their inflating receipts. Outside a supermarket in Long Island, New York, John Kermaj said he has seen prices rise in just the past two months. "We used to buy this stuff for $30. Now it's $60," he said. He has tried to adapt when shopping for his family by buying only essential items and avoiding name brands, but that means skipping meat and fresh fish. "Gotta be the pandemic," Kermaj said. "Shortage." Before the pandemic began, the national average for a pound of bacon in January 2020 was $4.72. By last month, the price had soared to $5.11, according to exclusive supermarket point of sale data from NielsenIQ. Ground beef is up to $5.26 a pound, from $5.02. Bread is up to $2.66 a loaf, from $2.44. The hikes are more acute in certain areas. Boston and Philadelphia are paying nearly a dollar more per pound of bacon, while in Chicago it is up by about 70 cents. Several items spiked by over 5 percent at once in Dallas, including eggs, chicken breast, fresh ground beef and sandwich bread.

The White House said that it expects inflation to go up and not go back down. Three temporary factors are driving the increase, Jared Bernstein and Ernie Tedeschi, members of President Joe Biden's Council of Economic Advisers, wrote in a blog post: The rate of increase looks faster when it rises from a lower level, while supply chains have been disrupted and demand for services has built up. "We think the likeliest outlook over the next several months is for inflation to rise modestly ... and to fade back to a lower pace thereafter as actual inflation begins to run more in line with longer-run expectations," increasing from "historically low to more normal levels," they wrote. The price increases could stoke food insecurity at a time when more than 9 million people are out of work. The pennies can add up, week by week, family by family. "Food is a necessity," said Jayson Lusk, a Purdue University agricultural economist. "Lower-income households spend a larger share of their income on food. When we see food prices increase, it affects lower-income households more."

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Crypto is the way.
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not just groceries

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the numbers will vary, seen my costs lower during the pandemic due to not going out as much (1 store trip per week compared to 2).

hamburger non-sale is 5.99$ per pound (3-4$ sale price).
bread is on sale almost all the time. think i pay 1.60$ for buttermilk white bread.
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"We used to buy this stuff for $30. Now it's $60,"

From the rest of this article I think his math is off.

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Higher prices, but the workers still get minimum wage. Grocery stores are mostly monopolized now. Its time to break that up. Force them to pay $20/hr and NOT raise prices, or close down.

Shes ready

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