The pandemic might have stopped us from traveling or hanging out in large groups, but we still have to eat. And thanks to the coronavirus, that could be getting more expensive.
According to the health and wellness site Eat This, Not That, supply chain issues, labor shortages, and overall high demand across the country have been said to contribute to an impending consumer price hike.
To help consumers better prepare, the site found six staple foods that will see a price increase in 2022.
CNBC reported that beef and veal prices have risen by 20.1 percent during the past year. It suggested the pandemic caused a major slowdown in beef production that extends to all types of meat, including seafood and pork.
President Joe Biden has met virtually with independent farmers and ranchers to discuss initiatives to reduce food prices by increasing competition within the meat industry.
The “consumer demand for meat and poultry products has never been higher,” Julie Anna Potts, president and CEO of the Meat Institute, said in a December press release. “Members of the Meat Institute are producing more meat than ever before under extraordinary circumstances to keep our farm economy moving and to put food on American’s tables.”
Chicken prices also increased during the pandemic, although not as much as steak.
In a December 2021 news release, National Chicken Council president Mike Brown addressed the reason behind chicken’s increased price. “A 9 percent year-over-year price increase for chicken is barely outpacing inflation … on top of a labor shortage,” he said. “It’s Economics 101.”
When you throw in truck driver shortages and shipping delays, Eat This, Not That wrote, it’s a safe bet that chicken prices will continue to climb.
The Wall Street Journal recently reported that Kraft Heinz Co. is set to tell “customers that it would raise prices across many of its products … with some items going up as much as 20 percent.” Shoppers should be prepared, because the price of mayo is set to change very soon, Eat This, Not That wrote.
In November, CNN reported that egg prices had increased 11.6 percent over the previous year.
“We’ve chosen to increase our prices for the time being. We recognize that this is a difficult time for everyone and higher grocery bills can only contribute to that …,” organic egg company Pete and Gerry’s said when addressing its price increase. “In the egg world, the cost of high-quality organic ingredients for our hens’ supplemental feed has reached an all-time high.”
The company noted that it was led “to make some difficult decisions” because of the pandemic’s strain on operations, which is still going on.
The price of a box of cereal was 5 percent higher in the fall of 2021 than in fall 2020. CNN reported that in a letter to a wholesale supplier, General Mills stated it will raise prices on a number of items, including “Cheerios, Cinnamon Toast Crunch, Lucky Charm’s, Wheaties, Reese’s Puffs, Trix and more.”
The price increase is expected this month.
“Potatoes, celery and other heavier vegetables will have higher price tags next year in part because of higher freight costs,” the Wall Street Journal reported in December.
The reason for the increases, media company Mashable explained, is because the COVID-related issues other companies are facing are “still wreaking havoc on the food industry” and will for a while.