Pay Up: Don’t Expect Grocery Store Prices To Drop Anytime Soon

The cost of groceries isn’t coming down anytime soon. According to economists at Goldman Sachs, the price of groceries could actually go up another 5% to 6% this year. Grocery prices have already jumped by 11% over the past two years, thanks in big part to the pandemic, plus supply chain issues, and a worker shortage. Officials with the Bureau of Labor Statistics said in December alone, there were large price spikes for meat (14.8%), chicken (10.4%), and eggs (11.1%). Kraft Heinz recently announced it will hike prices on dozens of products, everything from Oscar Mayer cold cuts and Velveeta cheese to Capri Sun drinks. What’s one food or drink – no matter how high the price goes – you just can’t go without?

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