Deep Dive: Supply chain issues and inflation. How much more are you paying at the supermarket?
How much are the supply chain issues and inflation impacts hitting your wallet? In this week's Deep Dive, News 12's Kristie Reeter and Investopedia’s Caleb Silver break down certain staples everyone buys to see if you are paying more.
News 12 asked Twitter: Have you seen a big increase in your grocery bill over the past year? Out of 1,500 votes, 88% said yes. We asked Silver what price change he is seeing in New Jersey.
"Pretty much across the boards,” says Silver. “But let's get into it by category. Fruits and vegetables up 2.3%, September to September. Dairy products up almost 1%, meat, poultry, fish and eggs up 9%, Kristie, and cereal and bakery products up 5.1%. So, every big category is seeing price increases."
Are we seeing a bump in price with inflation on those?
“Absolutely, I told you about meat prices up 9.1%, but pork prices alone up 10%,” says Silver. “We are feeling it across every item that contains pork, but especially in that Taylor Ham that New Jersey is so famous for. Those prices are up and will probably remain high throughout the year."