Your grocery money is not going as far as it used to, as food prices are on the rise. Financial Advisor Eric Burkholder said you can expect to feel the inflation at the grocery store.
"For the first time in a long time, we are seeing inflation almost across the board,” Burkholder said.
Burkholder said right now is the perfect storm caused by supply chain disruptions from the pandemic and the pent-up demand from consumers.
"Production issues, things that have been shut down are now not ramping up quick enough and then you have the federal government putting unprecedented stimulus into the economy, Burkholder said.
"50 out of 52 items that are tracked at the grocery store have increased in price from previous years,” Burkholder said.
He said items have gone up anywhere between 7-20%. This includes everything from fruit and vegetables to eggs, dairy, and meat.
"It doesn't really bother me that much except when they run out of the chicken wings now, that messes me up, you know I want those chicken wings,” Davis said.
When Gloria Davis finds them, she said she ends up paying more, along with the rest of her groceries.
"Back in the day I remember cutting out all those coupons because I had to raise three kids, so I understand, a lot of these families it's not fair to them,” Davis said.
Burkholder believes once production picks back up, consumer prices will ease up.
"Prices could stay a little higher but I think long-term most of this is short term, supply chain and demand disruptions and hopefully we will see some return to normalcy,” Burkholder said.
Burkholder believes we could see some relief from the higher prices by the end of the year.