DWYM: Here's why you're paying so much for your groceries

DWYM: Why grocery prices are spiking
Posted at 2:06 PM, Apr 19, 2021
and last updated 2021-04-19 15:07:43-04

Have you checked your grocery bill lately?

The government is reporting another jump in food prices for the first three months of the year.

No, it’s not your imagination. Or a case of buying too much food.

Grocery prices are jumping again in 2021, after a big rise last summer during the pandemic shortages.

Feeling hungry? Maybe it's because grocery prices jumped more than half a percent in the month of March alone.

According to the government’s Consumer Price Index, that could mean a 6 percent hike this year, after an almost 4 percent jump last year.

Jackie Thompson said she first started noticing rising prices last summer.

‘I think it's ridiculous, it is totally ridiculous,” she said. “$15 for a steak!"

Last summer, basic strip steaks went up to $12 a pound, while one of the cheapest cuts of meat, chuck roast, soared to $8 per pound.

The USDA says bacon averaged $4.72 a pound in April 2020. Now, it’s $5.11.

Bread averaged $2.44 a loaf last year. Now, it’s $2.66.

So from the doesn’t that stink file, why prices keep going up, even though product shortages have ended.

One reason is fuel: if you have seen gas prices lately, you'll understand.

Shipping those goods are more expensive.

Prices to make packaging are up too.

In addition, meat processing plants are still dealing with worker shortages.

So that stinks.

The one bit of good news: grocery shelves are more stocked now than they've in the past 14 months.

But watch those prices, so you don't waste your money.