Americans Forced To Adapt To Record High Grocery Prices

Higher grocery prices are forcing many Americans to change how they shop for food and other essentials.

It's getting more expensive to eat out and to dine in. Last month, grocery prices were 6.4% higher than a year ago, which is the fastest pace of food inflation in more than a decade. Shoppers are switching to cheaper stores and buying less expensive generic brands. The White House has blamed big corporations for rising food prices, but Texas A&M economist David Anderson says there's a number of factors that impact the price, including inflation.

“We certainly had the rippling effects of the pandemic,” Anderson said. “We had bottlenecks that are causing some higher costs. Some of it is the demand side because we’re still out there buying some of those items.”

He says prices will likely remain high through the beginning of 2022, as parts of the country are still dealing with a shortage of truck drivers and rising fuel costs. However, Anderson believes the food industry will bounce back eventually. He notes how wholesale beef prices are starting to come down.

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