If you shop for groceries these days then you are already mumbling that mantra……prices started accelerating during the pandemic…..prices shot up and stayed up….

U.S. grocery prices jumped significantly after the federal government issued lockdown guidance in March 2020 in response to the global COVID-19 pandemic. 

Shutdowns across the globe, instituted to curb the spread of the virus, caused disruptions in shipping food from producers to manufacturing facilities to warehouses and supermarkets and restaurants.

Prices first began to surge in April 2020, but the biggest increases came in 2022, as inflation started to erupted and the Federal Reserve tightened monetary policy. These, plus a confluence of other factors, led to the biggest food-price increases in decades.

Here are the four biggest causes for the food prices to shoot higher.

https://www.thestreet.com/economy/why-are-groceries-so-expensive

I am old so I can step back in history and remember when a pound of sugar was 19 cents, a loaf of bread was about 25 cents, a head of cabbage was less than a quarter and a pound of hamburger was less than a dollar….but those memories are worthless these days just something to bitch about, right?

Okay let’s look at the prices….say since the last election in 2020…..

If you feel like your trips to the grocery store have been putting a bigger dent in your wallet lately, you’re not imagining things. Food prices in the United States have risen significantly over the past few years due to high inflation.

During the last federal election on Nov. 3, 2020, food inflation was running at just 3.9% annually. Fast forward to March 2024, and the latest data shows food prices have risen a whopping 25.8% since then. To put that in perspective, a basket of groceries that cost $100 in November 2020 would now set you back $125.80. That’s an increase of nearly $26 for the exact same food items.

The biggest price hikes have been for specific grocery categories like eggs, dairy products, cereals and baked goods. But price rises have impacted all food groups across the board.

The inflation data shows egg prices were among the worst hit, with the average price soaring 54% from November 2020 to March 2024. So if a dozen eggs cost you $2 at the election, that same dozen eggs would now average around $3.08.

Dairy products like milk, cheese and butter also saw major price hikes over the past 3.5 years. Milk increased 36%, with a $3 gallon now costing $4.08 on average. Cheese and butter prices jumped around 30% over that period.

The price of cereals and bakery products, like bread, rolls, crackers and cookies, wasn’t far behind — rising around 28% since November 2020. So a $4 box of cereal back then would now cost you about $5.12 on average.

The cost of meat, poultry, fish and eggs collectively rose 23.5% since the last election. Beef prices were up around 20%, with chicken increasing over 25%. So $5 worth of ground beef in 2020 would now average $6.

For fresh fruits and vegetables, the price hike averaged around 21% over that 3.5 year period — a $3 pound of apples in November 2020 would now typically cost you $3.63.

hile overall food inflation started gradually pulling back after that August 2022 peak, prices have remained stubbornly high for most grocery categories compared to pre-COVID-19-pandemic levels.

So while the latest 2.2% annual food inflation rate for March 2024 seems more manageable, it doesn’t negate the cumulative 25.8% increase in grocery prices since that November 2020 election. And it remains to be seen if that downward trend in food inflation will continue in the coming months.

That is just since the last election, 2020, and now the grapevine has been setting the consumer up for higher meat prices with the accusation that swine and beef may be infected with bird flu.

This is a never ending thing…..food prices go up and seldom come down….maybe there should be some sort of speech from the president on the handling of food prices…

Just a thought!

I Read, I Write, You Know

“lego ergo scribo”