Shoppers had better start budgeting more for their grocery bills, according to the latest consumer price index, which shows prices are increasing — and they’re likely to keep going up.
The monthly consumer price index, released Tuesday morning by the Bureau of Labor Statistics, showed a 0.6 percent increase in March, the largest one-month increase in nearly a decade. Over the past year, prices have increased 2.6 percent overall.
Gas skyrocketed up 9.1 percent last month. Since February, fruits and vegetables have risen nearly 2 percent and the index for meats, poultry, fish and eggs have risen 0.4 percent, according to the government figures.
The latest spike in grocery bills comes on the back of prices that had already risen during last year’s pandemic stockpiling and supply chain disruptions and never went down. Consumers are noticing their inflating receipts.
Here is another mainstream media article from a month ago:
“In Indonesia, tofu is 30% more expensive than it was in December. In Brazil, the price of local mainstay turtle beans is up 54% compared to last January. In Russia, consumers are paying 61% more for sugar than a year ago.”
“Consumers in the U.S., Canada and Europe won’t be immune either as companies — already under pressure from pandemic-related disruptions and rising transport and packaging costs — run out of ways to absorb the surge.”
h/t Doctor Congo