No, it’s not your imagination, or a case of buying too much food.
Grocery prices are jumping again in 2021 after a big rise last summer during the pandemic shortages.
Feeling hungry? Maybe it’s because grocery prices jumped more than 0.5% in the month of March.
According to the government’s consumer price index, that could mean a 6% hike this year after an almost 4% jump in 2020.
Jackie Thompson first noticed rising prices last summer.
“I think it’s ridiculous, it is totally ridiculous. $15 for a steak?” Thompson asked.
Last summer basic strip steaks went up to $12-per-pound, while one of the cheapest cuts of meat, chuck roast, went up to $8-per-pound.
The USDA says bacon averaged $4.72-per-pound in April 2020. It’s not $5.11-per-pound.
Bread averaged $2.44-a-loaf last year, and it’s now $2.66.
So from the “doesn’t that stink” file, why do prices keep going up, even though product shortages have ended?
One reason? Fuel. If you have seen gas prices lately, you’ll understand. Shipping those goods are more expensive. Prices to make packaging are up, too.
In addition, meat processing plants are still dealing with worker shortages. So that stinks.
The one bit of good news: Grocery shelves are more stocked now than they’ve been in the past 14 months.
But watch those prices, so you don’t waste your money.