Food prices have skyrocketed in American stores: how to save - ForumDaily
The article has been automatically translated into English by Google Translate from Russian and has not been edited.
Переклад цього матеріалу українською мовою з російської було автоматично здійснено сервісом Google Translate, без подальшого редагування тексту.
Bu məqalə Google Translate servisi vasitəsi ilə avtomatik olaraq rus dilindən azərbaycan dilinə tərcümə olunmuşdur. Bundan sonra mətn redaktə edilməmişdir.

In American stores, food prices have risen at a record: how to save

Prices rose during last year's stockpiling during the pandemic - and have never fallen since then, writes NBC News.

Photo: Shutterstock

According to the latest consumer price index, they're rising—and likely to continue rising—which means shoppers better start stretching their grocery budgets.

The monthly consumer price index released on the morning of April 13 by the Bureau of Labor Statistics rose 0,6% in March, the largest monthly increase in nearly a decade. In general, over the past year, prices have increased by 2,6%.

Gas prices rose 9,1% last month. Prices for fruits and vegetables have risen by almost 2% since February, while the index for meat, poultry, fish and eggs has risen by 0,4%, according to government data.

The jump was due to prices that had already risen during last year's stockpiling during the pandemic and supply chain disruptions and were no longer going down.

 

Before the pandemic, the national average for a pound of bacon in January 2020 was $4,72. By last month, the price had soared to $5,11, according to NielsenIQ's exclusive supermarket point-of-sale data. Ground beef is up to $5,26 per pound, down from $5,02. Bread is up to $2,66 per loaf, down from $2,44.

This is more noticeable in certain areas. Boston and Philadelphia are paying almost a dollar more for a pound of bacon, while in Chicago the cost is up about 70 cents. Several types of food in Dallas have risen in price by more than 5% at once, including eggs, chicken breast, fresh ground beef and sandwich bread.

On the subject: Fruits and vegetables worth buying in April

The changes affect the profit margins of grocery stores. Manufacturers have cut promotions and coupons since stocks ended last March.

“On average for the month, 31,5% of units were sold through promotions; in the final period of March, it was 28,6% of units, said Phil Tedesco, vice president of predictive retail analytics at NielsenIQ. “Customers have fewer opportunities to take advantage of in-store promotions, resulting in higher overall costs.”

Economists say the costs of rising gas prices, a surge in commodity prices, increased Chinese imports, significant crop damage in the Midwest, and other factors are being passed on to retail consumers.

“Right now, supply chains are largely inefficient,” said Isaac Olvera, agricultural economist at ArrowStream, a supply chain management software company. “We are still dealing with the consequences of the pandemic.”

Gas prices and transportation costs, which are borne by consumers, especially for commodities such as bread, only rise as travel speeds increase faster than oil production. Therefore, food prices are likely to remain at a higher level at least until the end of the year, Olvera said. Manufacturers may eventually increase production to meet increased demand, he said, but that won't happen until the end of the year.

The White House said on April 12 that they expect inflation to rise, not decrease.

Three time factors cause growth. Jared Bernstein and Ernie Tedeschi, members of President Joe Biden's Council of Economic Advisers, wrote on their blog that the growth rate looks faster when it rises from a lower level, while supply chains have been disrupted and the demand for services has increased.

“We think the most likely outlook over the next few months is for inflation to rise moderately, followed by a decline as actual inflation begins to more closely match long-term expectations,” rising from historically low levels to more normal levels, they wrote.

Higher prices could exacerbate food insecurity at a time when more than 9 million people are out of work.

“Food is a necessity,” said Jason Lusk, an agricultural economist at Purdue University. — Low-income households spend most of their income on food. Rising food prices affect these families the most.”

You may be interested in: top New York news, stories of our immigrants and helpful tips about life in the Big Apple - read it all on ForumDaily New York

According to Amy Keating, a nutritionist for Consumer Reports, a nonprofit consumer observation organization, shoppers on a budget can try some timeless tips to cut their bills.

Keating recommends signing up for a coupon aggregator app like Flipp or a price comparison app like Basket. Take pictures of products with their prices to remember the average numbers, especially for more expensive products (such as olive oil or nuts). And if the unit price is not listed, use your phone's calculator.

Another classic tip still works: shop only on a list basis to avoid impulse purchases. And also go to less expensive stores or generic brands, and change more expensive meat for cheaper cuts or switch to chicken or legumes.

 

Read also on ForumDaily:

Biden for the first time put the US economy in the hands of women: how they deal with it

Substance in Certain Fruits and Vegetables May Protect Against COVID-19: Study

What can you get for free in the USA for vaccination against COVID-19

Seven Things That Should Be Free, But Are Not

Miscellanea In the U.S.
Subscribe to ForumDaily on Google News

Do you want more important and interesting news about life in the USA and immigration to America? — support us donate! Also subscribe to our page Facebook. Select the “Priority in display” option and read us first. Also, don't forget to subscribe to our РєР ° РЅР ° Р »РІ Telegram  and Instagram- there is a lot of interesting things there. And join thousands of readers ForumDaily New York — there you will find a lot of interesting and positive information about life in the metropolis. 



 
1080 requests in 1,530 seconds.