Grocery store supplies remain tight, with items from Tylenol to chicken in short supply. And it appears beef and pork could soon be added to the list.
But at the same time we are finding less on the shelves, prices keep creeping up and we are paying a lot more for less.
Remember when eggs were 99 cents, beef was $2.79 a pound and pork just $1.79? Not anymore.
Shopper Cindy Detour said "the price of eggs has gone extremely high compared with a few years ago."
We checked her store and confirmed that:
- 99 cent eggs from earlier this year are now $1.59.
- A gallon of milk is $2.99, up a dollar this year.
- Ground beef for hamburgers was selling for $6 a pound, up almost from $4.
It's happening at grocery chains everywhere, including Kroger, Walmart, Publix, Safeway, Giant Eagle and more.
Forbes magazine
found that nationally:
- Egg prices are up 50% this year.
- Orange juice is up 20%.
- Rice: Up 20%.
- Wheat: Up 15%
What's next to see higher prices?
But from the "doesn't that stink" file, the possibility that the worst may be yet to come.
Smithfield Farms has just closed several meat processing plants due to workers getting sick with COVID-19.
Time Magazine says pork could become the next toilet paper or at least see a big price hike in the coming weeks. Beef supplies are better, but even those processing plants are having issues.
This does not fall under the legal definition of gouging. But when items get scarce, stores tend to pull promotions. and prices go up and up.
And that really stinks if you are out of work.
- Bottom line: Until shelves are filled up again, prices will remain high. Oh, and don't think about buying a deep freezer, and filling it with frozen meat. You can't find those anywhere now.
As always, don’t waste your money.
__________________________
Don't Waste Your Money" is a registered trademark of Scripps Media, Inc. ("Scripps").
Like" John Matarese Money on Facebook
Follow John on Twitter (@JohnMatarese)
For more consumer news and money saving advice, go to
www.dontwasteyourmoney.com
