Grocery store CEO reveals when Americans will see relief in the aisles

[mystery-ak]

June 17, 2023 7:00am EDT
Grocery store CEO reveals when Americans will see relief in the aisles
Grocery prices accelerated again in May despite cooling inflation

 
By Agustin Hays FOXBusiness

As inflation begins to cool down, grocery store shoppers are still waiting for relief in the aisles as Americans continue to pay top dollar to feed their families.

CEO and president of Stew Leonard's supermarket chain Stew Leonard Jr. addressed when shoppers may finally see prices dip on "The Claman Countdown" Tuesday.

"We're hoping maybe next year and the year after prices will come down or at least stabilize," Leonard Jr. said.

The Labor Department said Tuesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose just 0.1% in May from the previous month, far lower than the 0.4% increase recorded in April.

But grocery prices, a visceral reminder of inflation for many Americans, accelerated again in May with food costs jumping 0.2% after falling the previous two months.

Consumers continued to pay more for staples like bread, meats like ham, beef and fresh vegetables, including potatoes, lettuce and tomatoes.

"We saw a little easing with the CPI just coming up, but, you know, basically you have a lot of costs that have increased right now, like labor, for instance," Leonard Jr. noted. "We've had to raise our starting rates from paying $17 an hour right now to get great people. So, you know, a lot of those costs you have to pass on a little bit."

He also added stores are feeling the impacts of supply and demand.

"Right now, demand is up. Obviously, prices will be up a little bit."

more
https://www.foxbusiness.com/economy/grocery-store-ceo-reveals-americans-relief-aisles

[mountaineer]

Eggs are down this week, but things like shortening and mayonnaise are really high. 

[bigheadfred]

Eggs are down this week, but things like shortening and mayonnaise are really high. 

Gas price is up fifty cents a gallon here. The guy saying food prices may drop next year isn't encouraging.

[Hoodat]

If they are expecting prices to return to 2020 levels, that isn't going to happen unless the US Treasury hands over $5 trillion to the Fed, and they wipe it off the books.

[mountaineer]

Gas went up 25 cents the other day. Why these big jumps?

[bigheadfred]

Gas went up 25 cents the other day. Why these big jumps?

They use excuses like OPEC curtailing oil production but I just call it greed.

[Fishrrman]

Fred with the head wrote:
"Gas price is up fifty cents a gallon here."

At the same time, crude oil prices have been trending DOWNWARD.

Crude has dropped below the $70 mark into the high 60's several times.
Yet, gas at the pump is jumping 'way up over what it should be with crude at these prices...

[libertybele]

Fred with the head wrote:
"Gas price is up fifty cents a gallon here."

At the same time, crude oil prices have been trending DOWNWARD.

Crude has dropped below the $70 mark into the high 60's several times.
Yet, gas at the pump is jumping 'way up over what it should be with crude at these prices...

I just paid $3.59/gal the other day.  Grocery prices are ridiculous.  I don't see relief; I can't recall the last time that I've seen grocery prices come down.  It sure seems once they rise and the manufacturers shrink packaging, the cost stays or gets higher.

[libertybele]

They use excuses like OPEC curtailing oil production but I just call it greed.

I call it Brandon sold off our reserves! 

[libertybele]

Eggs are down this week, but things like shortening and mayonnaise are really high. 

I can get eggs a little cheaper if I buy larger quantities and locally.  I just paid $6.99 for a jar of Hellman's mayo. Duke's was on sale for $5+ something; I guess I should give it a taste.

[Smokin Joe]

Note, also, that product sizes are diminishing.

[roamer_1]

If they are expecting prices to return to 2020 levels, that isn't going to happen unless the US Treasury hands over $5 trillion to the Fed, and they wipe it off the books.

That's right... They need to heat government buildings with burning Benjamins...

[libertybele]

Note, also, that product sizes are diminishing.

That is so disheartening....it happened significantly during the Carter years and again now.  That's what I mean; prices and products shrinking aren't going to bounce back.  Prices will remain high and product packaging will remain downsized.

[DB]

Well, the left is and has been waging war on food and energy. There are consequences to that. All it does is lower our standard of living while transferring our wealth to the producers of these more expensive mandates. The more success they have, the more they will enslave us.

[LMAO]

Gas was down to 3.39 at a local station today after being at 3.49

[Hoodat]

I can get eggs a little cheaper if I buy larger quantities and locally.  I just paid $6.99 for a jar of Hellman's mayo. Duke's was on sale for $5+ something; I guess I should give it a taste.

Ditch both of them for Blue Plate.