It seems like everything is getting more expensive these days and according to new government data, grocery store prices are no exception.
The Food At Home Index, an indicator of grocery prices, shows that grocery store prices have increased seven-tenths of a percent in the month of September and 13 percent over the last year. Contributing factors for the food price hikes include producers paying more for labor and materials, extreme weather like droughts and flooding, and diseases like the deadly avian flu.
Demand is still high, however. People need to eat and many Americans are now working remotely, consuming more meals at home than they did before the pandemic. The supply and demand imbalance means that companies can pass on the higher prices to shoppers without their sales taking a big hit.
