Food manufacturers are preparing to raise prices across a wide range of products in 2022 as inflation surges to levels not seen in decades and supply chain disruptions persist.
According to a report on Monday from The Wall Street Journal, food prices are expected to rise 5% in the first half of next year, citing research firm IRI.
Prepare yourself for buying groceries in the new year to become even more expensive. Already skyrocketing grocery prices will see more increase in the new year.
Prices for just about everything in supermarkets, from staples such as bread, dairy products, and produce to snacks, candy and alcohol, will shoot up in 2022, according to supermarket executives the Journal spoke with.
Costs associated with labor, packaging, shipping, and logistics – resulting in a higher final price for you at the register – contribute to this.
No immediate response from IRI didn’t help their cause in any way.
The consumer price index rose by 6.8% in November from a year earlier, marking the highest growth rate since 1982, as reported by the US Bureau of Labor Statistics.
In total, food prices at home rose by 6.4% over last year, with meats, poultry, fish, and eggs growing at the fast pace of 12.8%.
As long as COVID-19 cases continue to rise all over the United States, supermarkets will likely pass on the cost to consumers. Meanwhile, this will result in consumers being forced to buy additional groceries to prepare meals at home.