While We Weren’t Looking, Grocery Prices Rose Sharply
After checking out at the grocery store, take a look at the big number at the end of your 4-foot receipt. The only thing keeping your jaw from dropping to the floor is your new snappy mask. Grocery prices are rising, and it's not pretty. Blame simple economics. The supply chains have been disrupted and demand is high. Therefore, prices will rise.
While we've been worrying about staying 6 feet away, we've completely forgotten about the cart's squeaky wheel and our cache of coupons. While we weren't looking, meat, poultry, fish and eggs, went up 4.3 percent. The price of eggs went up 16%, and donuts went up 5%. You can mess with a lot of things but don't mess with my SPAM. Too late. The price of pork jumped 3%, according to CNN Business.
The bottom line is, we are paying the most for groceries than we have in 46 years. In fact, According to the Labor Department, grocery prices rose nearly 3% - the highest one month increase since 1974.
However, it should all even out when it comes time to balance the checkbook at the end of the month. Gas prices are low, retail sales are everywhere, and you can get a new car for barely over invoice. But there's still that 4-foot receipt at the bottom of one of those bags.
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