The cost of everything from milk to chicken is going up and there is no end in sight.
The Consumer Price Index shows grocery prices continuing to climb, so if it feels like you’re buying less but spending more, it’s because you are. Consumer prices are up 5% from 2020, the worst inflation since the 2008 recession.
Shoppers have really noticed the increase in meat prices, but it doesn’t stop there. Compared to early 2020, you’re now paying 18.7% more for seafood, 7.5% more for fruit, 5.1% more for fresh meat, 3.1% more for vegetables, 2.4% more for cheese and 1.1% more for eggs.
Prices only continue to increase because demand is up, shipping is slow and workers are in seriously short supply.
These higher food prices are also hitting restaurants, of course, which are being forced to eat the cost or pass on the higher costs to their customers.