Grocery prices going up - WALB.com, Albany News, Weather, Sports

Grocery prices going up

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May 18, 2007

Albany - - Get ready to dish out more money at the grocery store. Economists say food prices are increasing at their highest rate in years, up four percent over this time last year.

Don't blame inflation, other factors are causing higher prices at the grocery store.

"It's definitely something you pay attention to," says shopper Perry Revill.

Drought conditions, freezing weather nationally, and the rising cost of corn. Yes...corn. It's the magic ingredient found in thousands of food products and don't forget it's used to make ethanol.

"I certainly notice it at the pump. I'm sure it's coming. It's going to trickle down to the grocery stores too I'm sure," says Bryan Smith.

It really doesn't matter where you shop. Rising grocery prices are becoming a national trend. No matter whether you're buying tomatoes or lettuce.

The U.S. Bureau of Labor Statistics has a website where you can track how common grocery items have skyrocketed over the years. 

Ten years ago a pound of bread would've run you 85 cents. A pound of tomatoes, $1.34.  A pound of ground beef, $1.83. Now a pound of ground beef will run you $2.67 on average. 

Let's take it back 15 years. In 1992, if it took you $300 dollars to go grocery shopping, now you'll need almost $442 to buy the same amount of groceries.

"I think its unfortunate. I wish they could figure out the supply and demand issues with fuel so we wouldn't have this issue," Smith says.

Because checking out today now means leaving with a lighter wallet in hand.

The government says grocery prices are rising as fast as they have in the last 15 years. To find out how much your money will stretch you with the cost of inflation, you can visit this website.

Feedback: news@walb.com/subject=groceries/bs