Grocery costs keep climbing -- prices of meat, seafood, produce, cereal and other kitchen staples shot up 9% in 2021. Here's why.
That's according to data from IRI, a Chicago-based market research firm, and the trend is continuing this year. Big-name brands are raising prices: Kraft Heinz announced hikes on Velveeta cheese, Oscar Mayer meats, Maxwell House coffee and Kool-Aid. General Mills and Campbell Soup also jacked up food prices, and Procter & Gamble raised the price of Tide laundry products.Why do grocery staples keep rising with no end in sight? Blame the supply chain, the ongoing labor shortage and Covid.
Various items have come in and out of stock throughout the past year. Right now, soft drinks are one of the hardest products to find on the shelves."We've had issues with some sweeteners, where they've been delayed, and we've had issues with cans and glass," said Norm Snyder, CEO of beverage company Reed's, adding that the labor shortage has been the biggest obstacle, especially during Covid surges.
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