May 28, 2024 - Business
Why grocery bills feel so high, even though food inflation is technically low
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The inflation rate for "food at home," basically the stuff you buy at the supermarket, is really low these days, with prices rising just 1.1% over the last year. But since January 2021, when President Biden took office, prices are up nearly 21%.
Why it matters: Every time Americans go food shopping they feel the sting of higher prices, making the grocery store the place where consumers are most regularly reminded about inflation.
The intrigue: Dining out is worse — prices rose 4.1% over the last year, far faster than costs at the grocery store or overall inflation.
- And prices for "food away from home" are up nearly 22% since 2021.
The bottom line: Finding cheap eats is a challenge.
