Grocery prices up 33% since 2019, US government data reveals - Gulf Coast News and Weather
Grocery prices up 33% since 2019, US government data reveals In recent years, Matt James has seen his grocery bill climb higher with seemingly every trip to the store. “They are on the increase, I have noticed,” James, who lives in Fort Myers, said of food prices. "Every day you see there's just 50 dollars right there – at the drop of a hat." Government data from the U.S. Bureau of Labor Statistics proves what people feel at the checkout line. Since the start of 2019, grocery prices have gone up 33%. In the 7-year window before that, prices rose only 6.4%. “Unless you got a raise that was a 33% increase in your dollars, you are losing ground,” Victor Claar, an economics professor at Florida Gulf Coast University, said. Claar explained that many factors have led to the massive rise in costs: the pandemic and supply shortages, weather events, import tariffs and most recently, the war in the Middle East. “People used to spend in a month at the grocery store, national average before the pandemic, about 380 bucks. Now it's at least $500,” Claar said. And some food costs are way up. The price of a pound of ground beef is 79% more than at the start of 2019, according to federal data. Combine grocery hikes with higher housing and transportation costs, and it is tough for some families just to get by. "Consumers are being hit hard on every side," he said. "You're losing ground in pretty much every direction." The rise has also led to debt over groceries. The Urban Institute found more than one in four adults used credit cards to buy groceries and struggled to pay their bills in full. Jesse Copper, who lives in Fort Myers, uses credit cards for groceries but said he makes sure to pay them off each month. "If you don't pay them off, don't have credit cards. Or have one and use it for emergencies,” Copper said. “It is mission critical for most families to do everything that they can not to use debt,” Claar said. While that may be easier said than done, there are things people can do. There is the grocery store advice: join loyalty programs, hunt for deals, and buy generic brands. But Claar suggests getting to the root of the challenge: the budget. "Nobody wants to do it. It's no fun to do. But zero-based budgeting,” Claar said. "Figure out how many dollars you've got to spend every month, and put in the things first that are mission critical,” he continued. “Only after you've figured out whether your monthly income — what you can afford to spend — covers those three things, only then figure out what you might be able to afford." There are also several food pantries on the Gulf Coast. For a list of free food resources, click here. DOWNLOAD the free Gulf Coast News app for your latest news and alerts on breaking news, weather, sports, entertainment, and more on your phone or tablet. And check out the Very Local Gulf Coast app to stream news, entertainment and original programming on your TV.