Food Prices Continue to Jump

Prices of groceries is rising in the US and NZ

The Bureau of Labor Statistics (BLS) from the United States of America has released the Consumer Price Index for food-at-home in March, revealing one of the largest 12-month increases in nearly 40 years.

February of 2022 previously held the record for the highest 12-month increase at 8.6 percent. But as food prices continue to rise, March now takes first place with a rise of 10 percent, making it the highest 12-month increase since 1981.

Inflation is having an incredible impact on food prices in the USA, both monthly and annually. All six of the major food groups found at grocery stores experienced increases in March, and the cost of online groceries has also surged, with March being the 26th consecutive month they have risen.

The United States of America are not alone in its inflation. The price of New Zealand groceries also continues to increase and is at a ten year high. Statistics New Zealand reports March year-on-year increases for most grocery categories: fruit and vegetable increased by 18 percent, meat, poultry, and fish prices rose 8.7 percent, and general grocery food prices increased 6.7 percent.

Grocery prices will continue to jump as factors such as the ongoing pandemic and the war in Europe delay manufacturing processes and the supply chain.