You might recently have found yourself standing in the grocery store holding a box of Cheerios or American cheese trying to adjust your eyesight while looking at the tag on the shelf. Yes, the prices of just about everything food are soaring.
The consumer price index for food increased 1.1% in July, bringing the increase from July 2021 to 10.9%, according to Consumer Price Index figures announced Aug. 10.
Meanwhile, the food-at-home index, which measures grocery store prices, recorded the largest 12-month increase since 1979.
Reasons for the increases, according to the U.S. Department of Agriculture, include supply chain issues, higher energy costs, transportation and an increase in labor costs.
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To learn how increases are playing out locally, the Erie Times-News did an unscientific survey of prices on 20 grocery staples at five local grocery stores, including Walmart, 5350 West Ridge Road; Wegmans, 5028 West Ridge Road; Giant Eagle, 2501 W. 12th St.; Tops Friendly Markets, 1520 W. 26th St. and Bellos, 2650 W. Eighth St.
The survey took place on Aug. 3, except for one item, which was surveyed on Aug. 10. The prices collected included the cheapest item in the category, without considering sales or loyalty card discounts. This often means that many of the prices recorded were for the store brand or "private label" versions of each product. Where possible, product prices, whether national brands or store brands, were calculated to unit prices (such as "per pound") if comparable packaging or products were not available at all five stores.
We found some product prices varied widely, such as for an 8-ounce bag of Lay's Classic Potato Chips, which rang up anywhere from $2.50 to $4.59. Meanwhile, milk prices were identical at all stores, and ground beef prices varied only slightly. Milk prices are regulated, but not ground beef. Wherever possible, the USDA food categories' price changes over the past year are included.
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In 2022 compared with 2021, cereals and bakery products prices rose between 12.0% and 13.0%, according to the USDA.
According to the USDA, retail egg prices increased 0.3% in June 2022, following large increases in April and May, and are 33.1% higher than June 2021. The report also said an ongoing outbreak of avian influenza has reduced the U.S. egg-layer flock, and the poultry flock to a lesser extent. This outbreak has contributed to elevated egg prices and increasing poultry prices as over 40 million birds in 37 states have been affected.
Rapid increases in the consumption of dairy products have driven increases in retail prices in recent months. This trend continued in June 2022 with a 1.4% increase in the prices for dairy products. Dairy product prices are predicted to increase between 12.0% and 13.0% in 2022, according to the USDA. Milk prices are regulated by the state of Pennsylvania.
In 2022 compared with 2021, cereals and bakery products prices rose between 12.0% and 13.0%, according to the USDA.
This brand of coffee in this type of plastic canister varied in size over several flavors and other characteristics, but all the stores charged the same for all types they stocked. For example, a store might carry five types of Maxwell House coffee in this shaped plastic canister ranging from 24 to 30 ounces, but all five canisters would be the same price.
The percentage increase in produce prices from November to December 2021, according to the U.S. Bureau of Labor Statistics, was twice that of other food categories, according to the Washington Post.
Prices for meats, poultry and fish increased by 0.4% between May 2022 and June 2022, reports the USDA. Beef and veal prices declined 0.6% in June 2022 and have remained steady or declined for three consecutive months.
Rapid increases in the consumption of dairy products have driven increases in retail prices in recent months, reports the USDA. This trend continued in June 2022 with a 1.4% increase in the prices for dairy products. Dairy product prices are predicted to increase between 12.0% and 13.0% in 2022.
Prices for meats, poultry and fish increased by 0.4% between May 2022 and June 2022. Poultry prices increased 1.5% in June 2022 and 17.3% between June 2021 and June 2022, with persistently low stocks of frozen chicken (also called “cold storage”). Elevated egg prices and increasing poultry prices as more than 40 million birds in 37 states have been affected. The disease prevalence also negatively impacts international demand for U.S. poultry. Poultry prices are now predicted to increase between 14.5 and 15.5% in 2022.
Fish and seafood prices rose by 0.5% in June 2022, climbing to 11.0% above June 2021 prices. Among the subcategories of fish and seafood, fresh fish and seafood prices declined by 0.4% and processed fish and seafood prices increased by 1.4%. Fish and seafood prices are now predicted to increase between 9.5% and 10.5% in 2022.
This analysis came from Bloomberg: "The tight market of pulp, used to make packages, diapers and toilet paper, is another blow to consumers, who have been struggling from rising prices for goods ranging from food to fuel. Other upward pressures on prices include sea logistics and disruptions on inland transportation with workers strikes and delays on new projects.
From CNN Business in January, Procter & Gamble said it was raising prices by an average of about 8% on retail customers next month for its Tide and Gain laundry detergents, Downy fabric softener and Bounce dryer sheets. P&G said it’s raising prices to offset cost pressures in transportation, labor and commodities it uses to manufacture its products.
Fortune magazine found that during the second quarter of 2022, baking products, snack items, cookies and chips, as well as dairy and eggs have all seen the biggest price increases.
Contact Jennie Geisler at jgeisler@timesnews.com. Follow her on Twitter @ETNgeisler.