July 29, 2024

Money

PBS - Traditional price tags at grocery stores may soon be on their way out, in favor of what are being called digital or electronic shelf labels that can be updated remotely. Consumer advocates worry this technology can lead to surge pricing.

NPR - Grocery prices have largely leveled off in the last year, but that doesn’t stop many Americans from experiencing sticker shock. The cost of rent, electricity and auto insurance have all risen faster than groceries in the last year. But the supermarket is still where shoppers feel the sting. The reason: The 1.1% increase in grocery prices over the last year comes on top of a 4.7% increase the previous year and a 12.2% jump the year before that. This is how supermarkets have become a symbol of inflation in the U.S.: 

🛍️ Shoppers are reminded of the higher grocery store prices more often than other rising costs because they see and experience them more frequently.
🛍️ Rising food prices are a challenge for low-income families, who typically spend a larger share of their money on groceries than better-off families do.
🛍️ Increasing wages are gradually catching up to grocery store prices. Average wages rose 3.9% in the 12 months ending in June. That’s about 3 1/2 times as fast as supermarket prices rose.

No comments: