Grocery Prices Still On The Rise, But Consumers Could See Relief Soon

Potential Relief For High Grocery Prices

(VitalNews.org) – High inflation is subsiding, according to experts, but many consumers are still seeing ultra-high grocery prices. This is where consumers are feeling the heat of the economy, but there may be a bright side in store for many.

Senator Elizabeth Warren from Massachusetts said, “Grocery prices skyrocketed during the pandemic, and in many cases, they’ve kept going up, even though the pandemic is over.” She continued to speak about consumer frustration when looking at the prices of items from week to week.

One issue people are experiencing is that some products, such as cereal, don’t come with the same amount of servings but still cost the same or more. This is called “shrinkflation,” and many people have noticed it since the pandemic.

Warren blamed corporations, saying, “Grocery prices are up because of good old-fashioned corporate price gouging.” She continued, “And they can gouge consumers on prices because there’s only a small number of companies controlling every level of the food chain.”

Officials, such as Senator John Kennedy, blamed inflation on government spending under Joe Biden’s administration, saying, “When you spend this kind of money, you’re going to have inflation.”

Mark Hamrick, senior economic analyst at Bankrate, said, “Inflation is coming down, but prices remain elevated. As long as prices are elevated, that means that affordability challenges persist.”

Some people expect that these prices will start to fall or even out when it comes to the pricing of consumer goods like food. However, some people are still experiencing high grocery bills and these prices are contributing to financial stress.

To combat this, some brands are looking to expand their efforts to make food more affordable. One example of this is Target coming out with five thousand items that would carry a lower price to target those from low-income homes.

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