Decades-high inflation is changing US consumers’ grocery habits. Kroger, the nation’s largest grocery store chain, said Thursday that budget-constrained shoppers were buying fewer items in stores, favoring Kroger’s cheaper store brands instead of name brands, and switching from beef to pork.“Rising inflation has consumers rethinking their shopping and eating habits,” Kroger (KR) CEO Rodney McMullen […]
Tag: food prices
U.N. warns of Crippling global food shortages this summer
Fears of a global food crisis are growing due to the shock of the war in Ukraine, climate change and rising inflation. Kristalina Georgieva, the International Monetary Fund managing director, told the World Economic Forum in Davos, Switzerland on Monday that “the anxiety about access to food at a reasonable price globally is hitting the […]
Inflation hits a new 40-year high in March 8.5%
America’s inflation problem didn’t abate in March. Prices kept creeping up, hitting a fresh 40-year high, data from the Bureau of Labor Statistics showed Tuesday. The Consumer Price Index rose 8.5% for the year ended in March, not adjusted for seasonal swings. That outpaced February’s elevated reading of 7.9% and marked a level not seen […]
In economic views, Americans believe inflation outweighs jobs
This week’s positive jobs report and the stronger employment rate aren’t entirely lost on Americans — just outweighed when they rate the economy. Many do say the job market is good and that jobs have increased over the last year – but it’s still inflation driving views, and even those who say the job market […]
81% of adults in this survey believe a recession likely
After two years of the coronavirus pandemic, a recession and a rapid recovery, Americans are worried that the economy may swiftly decline once again. Some 81% of adults said they think the U.S. economy is likely to experience a recession in 2022, according to the CNBC + Acorns Invest in You survey, conducted by Momentive. […]
These 8 food items are the most expensive right now
Earlier this month, the rate of inflation — the rate of increase in prices over a given period of time — here in the United States reached a 41-year historic high as consumer goods continue to be impacted by supply chain issues exacerbated by the COVID-19 pandemic, and more recently, by the war in Ukraine. […]
U.S. farmers worried about planting more because of Russia’s Ukraine war
Higher wheat prices should make farmers like Nicole Berg, the owner of a 21,000 acre farm in Washington state, happy. But the costs of fuel and fertilizer are eating into her profits. “The issue we’re having right now is that input costs are going up even more than the price of wheat,” Berg told CNBC […]
US food prices could blow sky-high on account of Russia / Ukraine war
As war continues to ravage Ukraine, Americans, particularly those who live paycheck to paycheck, are beginning to feel the financial squeeze on their food prices from the conflict half a world away. It began with a rapid rise in gas prices. Now, with Russian oil banned in the United States and energy scarcity heightened globally, […]
Grocery Prices Are Falling
In Austin, Texas, Randalls slashed prices for boneless beef ribs by 40 percent, to $3.99 a pound. Not to be outdone, the H-E-B grocer down the street charged $1 a pound less. Not long ago, Albertsons advertised a deal you don’t normally see on your finer cuts of meat: “buy 1 get 1 free” specials […]