In 2020, the price of food rose more than 3% over the price the year before. This includes both food eaten out and food cooked at home, according to data from the U.S. Department of Agriculture. Consumers saw the price of meat spike in 2020 as well with beef and veal prices increasing 9.6%, poultry prices increasing 5.6% and pork prices increasing 6.3%
ByPramod Acharya, Midwest Center for Investigative Reporting |
More Americans have stayed home to cook during the COVID-19 pandemic, but they've paid a higher price for their home meals. While the cost of restaurant foods remained steady through the past few months, the price consumers paid for foods at grocery stores has steeply risen since March 2020.
As customers rushed to stock up on foods at the beginning of the pandemic, there was a sudden and sharp increase in demand for food, which led to higher prices. The dramatic reduction in restaurant traffic also resulted in increased demand for food from grocery stores, thus raising prices for food products, according to an April 2020 post by the USDA.
The Consumer Price Index – a measure of the average change in the prices paid by consumers for goods and services – rose 4.5 percent in June for food, according to the U.S. Bureau of Labor Statistics . The index for food at home increased 5.6 percent in June, following a 4.8 percent increase in May, before seasonal adjustment.
While the price of poultry products – chicken and eggs – rose modestly, the cost of meat items – both beef and pork – rose sharply in June. The temporary closure of a number of meatpacking plants decreased the supplies of meat products, which eventually led to the steep rise in retail meat prices, according to the USDA report.
When a sunken town emerges from the bottom of a lake, you know you’ve got a problem of Biblical proportions. Monument City’s reappearance symbolizes the drought, the first major drought in the Midwest since 1988, and the worst since the drought of 1956. Things are bad out there.