Reports say grocery prices are on the rise despite reports that inflation is cooling

Pls share this post


Listen to this article

Inflation is falling but buying food can still be expensive. 

Grocery prices have risen 21% in the last three years, according to the Bureau of Labor Statistics. 

Andrea Leo owns Sun Market grocery store in Denver, Coloradom and says she does her best to keep food prices low, so customers will continue to come in.

WHY ARE GROCERIES STILL SO EXPENSIVE?

“Sometimes I pay more for potatoes than I am charging. Same with milk. I make like 10 cents on milk. But it’s more important for me to have it affordable so that people can come in,” Leo said.

READ ALSO 
Al Gore's son carrying on father's climate change legacy as new face of EV policy

Leo said inflation had the biggest impact on the grocery store prices of her poultry and produce. To help, she donates some for free to families in need. 

FED’S FAVORITE INFLATION GAUGE ROSE 0.3% IN JANUARY

“I want to have something for everyone. No matter what their budget,” Leo said.

Dr. Kishore Kulkarni is an Economics professor at Metropolitan State University of Denver.  Kulkarni adds even if you don’t notice a price hike, you should watch out for shrinking products. 

“We should look at the packets. Make sure that your product size has not gone down and you are paying the right price for the right product,” Kulkarni said.

READ ALSO  IVF: The financial burden families could face

Kulkarni said inflation is hovering between 2% and 3% nationally, but economists say some food prices remain inflated by up to 10%.

HIGH INFLATION IS STILL SQUEEZING AMERICANS’ BUDGETS

CLICK HERE TO READ MORE ON FOX BUSINESS

Customers shopping at grocery stores said they try to find the best deals by shopping at multiple stores.

Shopper Diane Santorico said she is feeling the pains of food inflation. Santorico says her family plans out their meals and does their best to mix it up and . 

“Really being careful about where we spend our money. It’s coming down to the necessities and trying to eat healthy is even harder,” Santorico said.

READ ALSO  US national debt tracker for Feb. 13, 2024: See what American taxpayers (you) owe in real time

Source



Pls share this post
Previous articleAfricans among the casualties of a drone strike in Russia
Next articleBritons Consuming 50% More Takeaways Post-Covid, Threatening Health and High Streets