News Outlets Can’t Explain Away Higher Grocery Prices
“It’s not that bad”, “It’s temporary”, “It’s normal” and “It’s good for the economy” aren’t convincing cash-strapped consumers.
“A homemade chicken dinner costs 40% more than 5 years ago,” reported Jennifer Brown for the Colorado Sun on November 22, 2023.
“U.S. consumers spent 11.3% of their income on food last year, nearly a 13% increase from the year before,” began Brown. “A big reason was simply inflation — the cost of food has gone up 20% or 30%.”
The Sun examined the cost of an average chicken dinner in 2018 and 2023: “Here’s how the price breaks down.”
The Chicken Dinner breakdown wasn’t pretty: A 6-pack of soda that cost $4.87 in 2018, cost $7.38 in November 2023. A 2018 chicken went for around $6.34 for a 4-pound whole bird. The same chicken was up to $8.50 in 2023.
The full meal? $32.18 in 2018: $45.04 in 2023.
Things haven’t improved in the months since November.
“How Far $100 Goes at the Grocery Store After Five Years of Food Inflation,” reported Stephanie Stamm and Jesse Newman for the Wall Street Journal on April 4, 2024. “From beef to mayo, consumers continue to spend more to buy less.”