Posted on 04/18/2022 10:11:55 AM PDT by Diana in Wisconsin
The cost of groceries increased nearly 10% year-over-year and 1% since February, driven largely by a rise in prices of meat, poultry, fish, and eggs, according to Consumer Price Index data from the Bureau of Labor Statistics released Tuesday, April 12. The report was released amid the highest documented inflation in more than four decades.
Economists consider two versions of the CPI data, which measures the change in prices paid by urban consumers for goods and services. The “headline” CPI, which rose 8.5%, includes all prices consumers face from housing and gas to bananas; while “core” CPI, which rose 6.5%, excludes typically volatile food and energy prices. The headline CPI increase came in slightly above the 8.4% increase many economists predicted. Meanwhile, the cost of energy increased by 32%. The BLS measures consumer costs by tracking CPI, which measures price changes, and average prices, which offer estimates of real-world prices for goods and services paid by consumers.
The March report reflects the most severe impacts of the global disruptions in energy and food markets caused by Russia’s invasion of Ukraine. Recent dips in prices of oil per barrel and the leveling off of gasoline per gallon are not reflected in this report.
Inflation, supply chain issues, and seasonal patterns drove changes in grocery prices
The average price of butter grew 11.9% in the last year. Meat has been especially affected by supply chain issues, with 100% meat frankfurters jumping 35.2% since March of 2021 to an average price of $5.18 per pound. Ground chuck, pork chops, and whole chicken showed year-over-year price increases of 11.3%, 15%, and 11.7%, respectively.
Average costs can change due to seasonal availability, inventory changes, and other factors beyond inflation.
Increases in average prices for items like beef and butter are largely tied to farms rebounding from labor shortages and supply chain issues that be traced back to the height of the pandemic when many livestock were culled, staffing was limited, and demand was low due to shutdowns. Higher input costs today for items such as grain and fuel—along with renewed consumer demand—have kept prices high.
Other factors like unfavorable weather and its impacts on crop and fruit yields—and, conversely, ramped-up production during spring and summer months—are also major contributors to average price fluctuations up and down.
Small increases on staple items can add up quickly
Many traditionally low-cost grocery staples were also impacted by inflation and supply chain constraints.
For shoppers buying premium items such as organic, free-range eggs or artisanal bread, the ability to find a cheaper item still exists. But for many consumers relying on little grocery-bill variance, small increases can add up quickly.
Recipients of Supplemental Nutrition Assistance Program benefits, formerly referred to as food stamps, are afforded a monthly food stipend. These stipends are only adjusted annually for inflation and don’t account for monthly price hikes. A rise in cost for even the most bargain items can have significant impacts on vulnerable populations.
Cheap beer has gone up 23% around here. What once cost 12.99 for a twelve pack now costs 15.99 now.
FJB
The problem with America is we have be way to prosperous for way to long.
It’s just a coincidence that we are 30+ trillion in debt while our “elected” officials are wealthy way beyond the average hard working citizen.
I noticed, a few weeks ago, a store-brand of butter being sold in 1 lb blocks (not packaged in quarters). The price was about 60% of the quarters. So I have been buying these lately, and with 2 cuts and about 1 sq ft of wax paper, I am good to go with quarters for the butter dish.
Thankfully there is a discount grocery chain in this area that has 1.5 lb. packs of name brand bacon priced at $5.99. It still has a few weeks left on the date and is perfectly fine to be frozen for several months.
The same size pack at Aldi’s, which is always a couple of bucks cheaper than the regular grocery, was almost $10 last week.
Boar’s Head all Beef Frankfurters.
It is one of the few kosher hot dogs.
Oy!
Yea, one week eggs went from usually around $1.50 a dozen to $3.40 a dozen... seem to have settled back down a bit, but still well above where they were, Bidenflation is real, every trip to the grocery store is another 10-20% increase on staple items.
Bidenflation - the stupid tax everyone is forced to pay to subsidize the stupidity of others.
Is bacon behind a locked glass door yet?
Keepin’ it Kosher, Baby! ;)
I swear the last bunch of hotdogs we bought had sawdust in them...........
We just had our steer to ‘the spa’ for processing. For all cuts, plus processing, he’s costing us $3.50 a pound. Deal of the century, all things considered.
And, I know what he’s been eating because I fed him myself. Grass fed and finished on grain. He DID like Milk Bones, so I’ll let you know if that is reflected in the flavor, LOL!
I don’t want to raise hogs, so I am on the hunt for local pork and chickens.
We’re also on a list from a local farmer, so we’ll most likely get 1/4 beef again in July. We raise our own steer every few years or so. There’s only two of us, so that’s plenty.
Yeah we woudl have to travel to get discount stuff like that- too far to be worth it unless we stocked up massively- so we’ve been stuck with huge prices for bacon- we wait till it is on sale, but it’s stil expensive
Pet foods are ridiculously priced now, and there are shortages in some things. I’ve heard of people having a hard time getting canned food for their cats.
I’m like...they’re CATS! If they want meat, let them hunt it for themselves, LOL!
I think sawdust is kosher, it’s from a plant................🤔
“The problem with America is we have be way to prosperous for way to long.”
The ‘design’ for America from our Founding Fathers:
Freedom, Liberty, Prosperity!
The ‘design’ for America from the Socialist Democrats:
Slavery, Tyranny, Indebtedness!
Our cat, a stray that just decided to live here, brought us a little gift just last week, a small snake, actually a legless lizard, and left it on the front porch!..........my wife was not amused!............😉
At Easter Dinner yesterday, we were talking about the products that we used to buy that now are, literally, IN locked cabinets. (And good luck finding the guy or gal that has the key!)
I remember the days when you could go to Walmart and load up on ammo right off the shelf and handle the firearms at will!
We’re so screwed.
I tell Eva Kitty that she can kill all the stupid English Sparrows and Cowbirds that she wants, but to leave my pretty birds alone.
She complies. Mostly. ;)
Hebrew National.
Black hair care products come to mind.
Ours apparently likes Mockingbirds............
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