Grocery prices could rise another 3% before the end of year, Kroger warns – with cost of beef already up 14% and pork 12% since last December
Grocery prices are headed higher later this year, according to Kroger, the largest supermarket by sales in the U.S.
While inflation is running hot, management is anticipating prices of its groceries to rise 2 percent to 3 percent over the second half of this year
Within the consumer price index, the component for food at home has risen five months in a row and is up 2.6 percent this year
Beef prices have risen 14 percent this year while pork prices have jumped 12.1 percent, and poultry prices are higher by 6.6 percent compared to 2020
The fresh fruits category has had the largest relative price increase (4.9 percent) and the fresh vegetables category the smallest (0.4 percent) compared to 2020
The Biden administration said that increased demand and supply-chain issues are not the only reasons for inflation as he points the finger at meat processors
By Alastair Talbot For Dailymail.Com
Published: 16:46 EDT, 12 September 2021 | Updated: 21:01 EDT, 12 September 2021
Grocery prices will rise by another three percent before the end of the year, according to one of America's biggest supermarkets.
Cincinnati-based Kroger generated $132 billion in sales last year, but the company said inflation is running longer than management previously anticipated, altering their expectations for prices.
Bosses now say they predict prices will rise 2 to 3 percent over the second half of this year.
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https://www.dailymail.co.uk/news/article-9982927/Grocery-prices-expected-rise-3-end-year-Kroger-warns.html