If you think your grocery bills are high, wait until next month.
A fresh wave of supermarket price hikes is expected to begin in January, raising prices anywhere from 2% to 20% on a slew of staples including pasta, condiments, soups, cookies, produce, dairy products and meats, according to a report.
A soaring inflation rate of 6.8% as of November — the highest rate of increase in 39 years — shows no signs of slowing down, with major food manufacturers preparing to raise their prices once again, according to the Wall Street Journal.
Persistent supply-chain disruptions and increasing labor costs are a major factor in the increases.
Kraft Heinz — which makes Oscar Mayer lunch meats, Kraft Macaroni & Cheese and Jell-O pudding — told retailers it is planning to raise prices on some items by as much as 20%, according to a memo viewed by the paper.
nypost.com/2021/12/27/food-price…n-january/
Your groceries are about to get even more expensive in 2022
Researchers estimate food prices will rise 5% in the first half of next year.
www.cnet.com/personal-finance/yo…e-in-2022/
h/t prosthetic brain