Food is more expensive than it has been in decades

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Video above: Food banks struggle to feed the hungry as prices skyrocket. the Bureau of Labor Statistics said on Friday. This is the largest 12-month increase since the year ended January 1982. And sadly for those hoping to cut spending by turning to home cooking, grocery prices are also at record highs. : They jumped 6.4%, the largest 12-month increase since December 2008. Beef experienced the most dramatic increase with prices soaring 20.9%. willing to spend more. In fact, restaurants have raised their prices as their own food and labor costs rise, and so far, they say, consumers have accepted the hikes. McDonald’s said in October that it expects menu prices to be about 6% higher this year compared to last year. . The increase “has been rather well received by customers,” CEO Chris Kempczinski said on a conference call with an analyst in October. Chipotle has also raised prices this year, but has seen sales from comparable restaurants increase. Beyond restaurants, food manufacturers and grocers have faced higher costs for commodities, labor and transportation. These costs have increased further in recent months, leading manufacturers to pass some on to their retail customers, who in turn charge consumers a portion of these increases. Higher prices at the grocery store are likely to hold over into the next year. Big manufacturers like Kraft Heinz and Mondelez have said they plan to increase prices for their retail customers in early 2022. All of this has allowed companies to remove or eliminate the discounts as demand is high and they don’t want to run out of their limited supply. What became more expensive in November While some food prices remained stable or even fell from October to November, other items became more expensive during the period, according to the consumer price index. Lettuce prices climbed 6.9% and fresh fruit by 2.2% After adjusting for seasonal variations. Oranges, including tangerines, rose 2.4%. At the opposite end of the spectrum, sweets like coffee cakes and fresh donuts jumped 3.5%. Roast pork, steaks and ribs increased 3.7%. Some of these items could get even more expensive. Manufacturers of hot dogs, sausage and hamburgers have warned retailers that they plan to increase the prices of some frozen and chilled meats in January. Food price increases are part of an upward trend in prices overall. Consumer price inflation, which includes prices for gasoline and other categories, rose 6.8% in the 12-month period ending in November, peaking in 39 year.

Video above: Food banks struggle to feed hungry people as prices soar

Bad news for American consumers: it’s getting more expensive to dine out and to eat at home is getting more and more expensive.

Restaurant prices soared 5.8% in the 12 months ending in November with no seasonal adjustments, the The Bureau of Labor Statistics said Friday. This is the largest 12-month increase since the year ended January 1982.

And unfortunately for those hoping to curb their spending by turning to home cooking, grocery store prices are also at all-time highs: they’ve jumped 6.4%., the largest 12-month increase since December 2008. Beef experienced the most dramatic increase with a 20.9% price increase.

Large increases highlight that restaurants and food manufacturers are not immune to supply chain and labor pressures that are driving prices up at all levels .

Again they have found that customers are willing to spend more. In fact, restaurants have raised their prices as their own food and labor costs rise., and so far, they say, consumers have accepted the hikes.

McDonald’s said in October that it expects menu prices to be around 6% higher this year compared to the previous one. The increase “has been rather well received by customers,” CEO Chris Kempczinski said on a conference call with an analyst in October. Chipotle also increased prices this year, however, he saw his sales of comparable restaurants grow.

Beyond restaurants, food manufacturers and grocers faced higher costs for commodities, labor and transportation. These costs have increased further in recent months, leading manufacturers to pass some of them on to their retail customers – who in turn charge consumers a portion of these increases.

Higher prices at the grocery store are likely to hold over into the next year. Big manufacturers like Kraft Heinz and Mondelez have said they plan to increase prices for their retail customers in early 2022.

All of this has allowed companies to remove or eliminate the discounts as demand is high and they don’t want to run out of their limited supplies.

What became more expensive in November

While some food prices remained stable or even declined from October to November, other items became more expensive during the period, according to the Consumer Price Index.

Prices for lettuce climbed 6.9% and fresh fruit by 2.2% on a seasonally adjusted basis. Oranges, including tangerines, rose 2.4%. On the opposite end of the spectrum, treats like fresh coffee cakes and donuts jumped 3.5% in price.

Meat prices also continued to climb: pork prices rose 2.2%, breakfast sausages rose 2.7%, and hot dogs rose 2.8%. Roast pork, steaks and ribs increased 3.7%.

Some of these items could get even more expensive. Hot dog, sausage and hamburger makers have warned retailers that they plan to increase the prices of some frozen and chilled meats in January.

Food price increases are part of an overall upward price trend. Consumer price inflation, which includes prices for gasoline and other categories, rose 6.8% in the 12-month period ending in November, peaking in 39 year.


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