Consumers have noticed that they are spending more to restock their pantries and refrigerators. And prices aren’t going down anytime soon.
Inflation is making it harder to stay on budget, and almost everything in every store costs more this month than it did last month.
In September, inflation rose 5.4%, meaning groceries cost more in September 2021, than they did the same time last year. That’s the highest rate increase in more than a decade.
FGCU economist Victor V. Claar said some of the cause for the sticker shock is a combination of shipping costs, truck driver shortages and supply shortages, all brought on by the pandemic, WINK News reports.
“A lot of production slowed or stopped because of the pandemic. We sort of forget that because of physical distancing and spreading people out in production facilities then those people couldn’t make as many units per week or per day as they used to,” Claar says.