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.
We’re very thankful for our 3 chickens and 1 rooster who guards them with his life(one of our small dogs learned the hard way not to go near their pen door). The give us about 3 eggs per day in exchange for me giving them fresh water, feed, and freshly hand-picked grass from our property or pasture every day. They ALWAYS wait for me to come back with their “greens”.
The rest of this inflation? Yes, it makes Carter look like a slacker.
Toilet paper is shrinking. It has gone from 4” x 4” early in the pandemic, to 4” x 3.8” when I bought some a couple of weeks ago. I don’t know about price, however. My guess is, it didn’t get cheaper.
“As part of the settlement, Walmart agreed to pay a partial reimbursement for investigation costs and civil penalties totaling $70,798.00,” the press release read. “Walmart also agreed to pay $10,200.00 to the Yolo County Food Bank to support its mission to advance the quality of life of vulnerable county residents by elevating food security.”
Heck, the local gas station where I buy my Sushi, is still at $3/ roll.
Seems like a good time to cut down on fertilizer deliveries via rail. https://freerepublic.com/focus/f-news/4055982/posts
The cost of birdseed is through the roof. My wife refuses to believe the Lord will provide for wild birds without her help.
I have a friend who can’t buy enough Air Jordans (he coordinates his outfits for his shoes) but won’t rush to make his car payment on time. It’s thinking like this why his credit is not good and he’s limited in options for financing. It costs responsible types money, raises the cost of borrowing for everybody and raises the cost of good and services.
“Wholesale prices of eggs did increase to $3.09 in March 2020, and the rise in prices among grocery stores, including Walmart, was likely due to this wholesale price increase being passed along to consumers, according to Reuters. Had grocery stores kept the same prices as before, they would have lost money on the eggs. A spokesperson for Trader Joe’s told TODAY that the grocery store did indeed lose money on eggs in March.”
Looks like the case you are citing is Walmart paying the government to go away.. because of an insane mandate during covid.... I don’t doubt the wholesale price has gone up this year leading to the price hike I witnessed just a few weeks back, but it didn’t double in 1 week.
4 ears of corn at Safeway yesterday @ $5.99
Nope
Hard Pass...
I’ve noticed that pet food (dog/cat) has gone up a lot in the last 6 months.
"Black hair care products come to mind."
Walmart Ends Practice Of Locking Up Black Hair Care Products Sold At Its Stores
I’ve reduced my dogs baked chicken treats to once a day from two a day.
Well, the garden is apparently being put on hold for the next couple weeks.
We are expecting a significant storm tomorrow here in the northeast and according to Joe Bastardi, he’s expecting a colder than average May. He says we are not past the last frost date by any means.
It’s in his Saturday Summary here…..
“I have noticed a recent spike in the prices of the 2AM 7-11 sushi bargain bin as well”
probably just as well, don’t you think?
Besides, can’t you get only slightly expired sushi in the gas station across the street?
That story is almost 2 years old, and I've seen them locked up a lot more recently than that. Although a recent visit I think they had been moved to a dead end location with a camera aimed at the products.
Maybe they should lock up their meat.
These two shoppers weren't going to let high prices stand in the way of cooking up some food.
Safeway here has weekly "Just-4-U" deals if you have their app. I bought a 6-lb rib roast Saturday for $6.47/lb. Today I bought two cartons (1 1/2 qt.) for $1.47 each.
A couple months ago I could buy a loaf of bread for 89 cents at Kroger. The price jumped to $2.79 for the same loaf of bread. It was not an incremental increase.
The cost of birdseed
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The jays keep a lookout and when my husband goes into the garage to get the feed, he squawks until the rest of the gang of flying thugs flocks in for brunch.
This year, I’m planting some giant sunflowers and pretty red dent corn for them. Not shelling it for them, they can visit the stalk or the ears themselves.
We stop feeding them before the garden gets planted. It’s been colder, longer this year, so they are still getting handouts. It’s not because they need us, but we enjoy their antics.
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