(WYTV) – You may have noticed an increase in your grocery bill recently. That’s because nearly everything at the grocery store has gone up in price.
While the coronavirus has forced some industries like gas and travel to slash their prices,
prices on groceries have seemed to go up.
Last month, prices increased 2.6% – which is the biggest one month increase in prices since 1974. And it’s not just certain foods, everything from fruit, vegetables, meat and dairy.
Economists say that the grocery store prices stems from the high demand and a supply chain that was slow to react and experts say they expect prices to continue to rise.
“But the reality is a lot worse than 2.6 percent. If we take a look at last week versus a year ago, according to Nielsen, we have some double digit increases. Prices are going to go up for the next year, even more, and we’ve got to get used to the new normal. But by eating at home more, I think it will probably balance out,” said grocery journalist Phil Lempert.
But experts say there’s more than just one reason for the increase.
“The meat production in this country is only about 40% of what it was before all of these closures, so that’s going to have an effect on supply. Every supermarket has now Plexiglas in it, a guard outside to make sure you’re wearing a mask, so we have a lot more expenses than we did prior to COVID-19,” said Lempert.
Ordering groceries online also had added expenses like delivery charge and tips.
Experts also expect the increase in prices to continue.