Economists say the rate of inflation on groceries is five percent. That’s higher than it’s been in 13 years.
A local mother of six states that her family grocery bill has gone up about $350 every two weeks to $700.
Chief Economist Michael Pakko with the Arkansas Economic Development Institute at the University of Arkansas at Little Rock said the price of food is going up across the board with processed foods moving the fastest. Pakko said this is the most rapid rate of price increases we’ve seen in many years and most of it goes back to the pandemic’s effect on supply and demand.
Pakko said one of the best things you can do is pay attention price changes, then make swaps. “If you see the prices of beef rising, you might want to substitute chicken,” Pakko said.
Pakko said he’s not sure we’ll see grocery prices come back down any time soon, but says they’ll hopefully level out at some point, making things a little easier at the checkout line.
See the full article from KARK.com here.