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15 Food Products That Will Be Priceless In The Months Ahead

1 Views· 12/17/22
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In Economy

Grocery prices have become a huge source of anxiety for many American families these days. We're clearly seeing that the current rate of price increases is reaching far higher levels than the official rate of food inflation suggests. While government officials tell us that we're paying around 15% more on groceries, some staple products have faced spikes of over 100% this year.
For instance, a report by Quartz exposes that the price of oats is actually rising faster than the price of oil on global markets. No wonder why store-brand oatmeal prices went from $1.99 to $3.99. Strained oat supplies will continue to push prices up in the year ahead, says one of the world’s largest oat milk producers Oatly. Similarly, due to the cost increase of primary supplies for carton boxes for transport, fertilizers, machinery, and labor shortages at farms, pineapples saw a huge jump in costs over the past two years, going up in price by a staggering 78% since 2020. Adding an aluminum shortage to the mix, the cost of canned pineapples skyrocketed from $0.79 per can to $2.22, marking a 120% surge in 24 months. Countries like Indonesia, Thailand, and the Philippines, which produce 75% of the world’s pineapples have faced a year of record drought, floodings, and pests, and lower supplies indicates that prices can only go in one direction.
Likewise, given that the cost of refined flour is going through the roof, a convenient and easy-to-make dish is doubling in price in many supermarkets. Unfortunately, there’s no relief in sight for skyrocketing flour prices, and customers are already noticing its impact ripple through the cost of many of their favorite foods. On a Facebook group, shopper Guinevere M said: “The other day I went to buy a pack of ramen that used to be 25 cents. Great meal saver on a night before a paycheck hits. Can always find a quarter. I hadn’t bought any in a while and almost passed out to see it was now 45 cents. Can I still find 45 cents? Sure, but it just captures the whole problem. Prices didn’t jump; they did an Olympic pole vault."
And farmers, food makers, and retailers are all warning us that a wide range of grocery products are about to get even more expensive in 2023. As it turns out, the surge in consumer prices wasn't "transitory" after all. And a series of events that continued to impact our food supply chains throughout the entire year are making the outlook for the next few months even more disturbing than it already is right now.
After two years of persistent price oscillations, American consumers really do deserve some good news to start the new year on a good note. But many may agree that honesty is worth more than false hope, and while our leaders continue to deny the seriousness of the problems U.S. families are facing, we have a commitment to our audience to always bring the news no one else seems to be talking about. We firmly believe that the best way of preparing to cope with these wild price swings is to get ahead of the hikes before they begin to ripple though the system, that's why today, we listed 20 grocery items that are set to face significant increases in the near future, according to food industry experts.

For more info, find us on: https://www.epiceconomist.com/

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