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Food is more expensive than in decades

Video above: Food banks squeeze hungry pets as prices rise, the Bureau of Labor Statistics said Friday. That was the biggest increase in 12 months since the year ended in January 1982. And unfortunately for those hoping to limit spending by switching to home cooking, grocery prices have also stayed flat. record high: up 6.4%, the biggest increase in 12 months since December 2008. Beef had the strongest increase with a spike of 20.9%. The sharp increase underscores the fact that restaurants and food manufacturers are not immune to supply chains and labor pressures that contribute to widespread price increases. willing to spend more. In fact, restaurants have raised prices as their food and labor costs have increased, and so far, consumers have accepted the increases. . CEO Chris Kempczinski said in an analyst call in October “has been received quite positively by customers”. Chipotle also raised prices this year, but same-store sales are still up. Those costs have escalated further in recent months, prompting manufacturers to pass some of them on to their retail customers, who will charge consumers a portion of them. Major manufacturers such as Kraft Heinz and Mondelez said they plan to raise prices for their retail customers as early as 2022. Supply is limited. Which items are more expensive in November While the prices of some foods are flat or even down from October to November, other commodities are more expensive during the period, according to the consumer price index. Prices of lettuce rose 6.9% and fresh fruit prices increased 2.2% on a seasonally adjusted basis. Oranges, including tangerines, rose 2.4%. On the opposite end of the spectrum, dishes like fresh coffee and donuts rose 3.5%. Meat prices also continued to rise: Pork prices rose 2.2%, with breakfast sausages up 2.7% and hot dogs 2.8%. Roast pork, steak and ribs rose 3.7%. Some of these items can be even more expensive. Hot dogs, hot dogs and burgers makers have warned retailers they plan to raise prices on some frozen and refrigerated meats in January. Consumer price inflation, which includes prices for gas and other commodities, rose 6.8% in the 12-month period ending in November, hitting a 39-year high.

Video above: Food banks struggle to feed hunger as prices rise

Bad news for American consumers: Eating out every day is getting more expensive and eating at home is getting more expensive.

Restaurant prices spiked by 5.8% in the 12 months ending November without seasonal adjustments, The Bureau of Labor Statistics said on Friday. That was the biggest increase in 12 months since the year ended January 1982.

And unfortunately for those hoping to limit spending by switching to home cooking, grocery prices are also at record highs: They’re up 6.4 percent., the biggest increase in 12 months since December 2008. Beef had the strongest increase with a spike of 20.9%.

The sharp increase underscores the fact that restaurants and food manufacturers are not immune to supply chains and labor pressures that contribute to widespread price increases.

Not yet they find that customers are willing to spend more. In fact, restaurants have raised prices as their own food and labor costs have increased, and so far, they say, consumers have accepted the increase.

McDonald’s said in October that it expected menu prices to be about 6% higher this year compared to last year. CEO Chris Kempczinski said in an analyst call in October “has been received quite positively by customers”. Chipotle also increase the price this year, but it has seen sales at its same-store restaurants increase.

In addition to the restaurant, Food manufacturers and grocers have faced higher costs of goods, labor and transportation. Those costs have escalated further in recent months, prompting manufacturers to pass some of those costs on to their retail customers, who in turn will charge a portion of the increases. that increase.

Higher prices at grocery stores are likely to continue next year. Major manufacturers like Kraft Heinz and Mondelez said they plan to raise prices for their retail customers as early as 2022.

That’s all that allows companies to pull back or remove discounts, because demand is strong and they don’t want to run out of their limited supply.

What is more expensive in November

While the prices of some foods were flat or even decreased from October to November, other items were more expensive during this period, according to the consumer price index.

Prices of salads increased 6.9% and fresh fruit increased 2.2% on a seasonally adjusted basis. Oranges, including tangerines, rose 2.4%. At the opposite end of the spectrum, treats like new coffee cakes and donuts have increased by 3.5% in price.

Meat prices also continued to rise: Pork prices rose 2.2%, with breakfast sausages up 2.7% and sausages up 2.8%. Roast pork, steak and ribs rose 3.7%.

Some of these items may even be more expensive. Hot dogs, hot dogs and burgers makers have warned retailers they plan to raise prices on some frozen and refrigerated meats in January.

Food spikes are part of a general uptrend in prices. Consumer price inflation, which includes the price of gas and other commodities, rose 6.8% in the 12-month period ending in November, hitting a 39-year high.

https://www.kcra.com/article/food-is-more-expensive-than-it-has-been-in-decades/38491288 Food is more expensive than in decades

JOE HERNANDEZ

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