Inflation in food prices can hit even harder for people in their 60s and older as they also juggle fixed incomes, health problems and changes in federal law.
Beef prices have hit record highs, yet American consumers haven’t stopped buying it. A look at what’s behind the steep price increase and when they might come down.
CHAMPAIGN — Americans have felt the pain of inflation in grocery stores this year. The USDA estimates that the cost of groceries was 10.6 percent higher in November 2022 than November 2021. Prices may finally be on their way down as the Federal Reserve tinkers with interest rates, but the cost of one product –
Making a Thanksgiving feast will cost more this year as the pandemic’s effect on the economy drives up food prices. Even economists like Curtis Dubay at the U.S. Chamber of Commerce notice the difference at the grocery store. “We’re spending roughly $25 to $50 more per week on groceries for a family of five,” Dubary