Inflation Affecting Grocery Store Prices, With An Even Greater Climb Expected

While the Consumer Price Index is not as high as previous months, consumers are certainly feeling the impact at the grocery store.

As we near the holidays experts said they expect prices are likely to continue climbing.

“Unfortunately Halloween and Christmas this year is gonna be expensive," Dr. Fariborz Ghadar, a finance professor at Penn State University said. “Last year Halloween we spent about $10 billion this year we’re anticipating to spend about $10.6 billion which is not keeping up with inflation.”

According to the Consumer Price Index, grocery prices are 13% higher then they were a year ago.

Pavlo Buryi, an associate professor of economics at the Harrisburg University of Science and Technology, said issues with the supply chain are a key factor in driving up costs.

The price of butter has risen 32.2% from last year, eggs are up 30%, and flour is up 24%, according to the U.S. Bureau of Statistics.

Labor shortages, as well as a lack of rain this summer, have also contributed to the rise in prices.