Shopping at the grocery store is likely costing you more. First gas then clothing, and now your groceries.
FGCU economist Dr. Victor Claar says some of the cause for the sticker shock at the store starts with production. “Scaled back with physical distancing. And among the adjustments, they made like PPE and plexiglass and giving people more space, and now facing pressure to hire people back.”
Since July we’ve kept track of the same 10 items at the grocery store including eggs, Dove deodorant, and Honey Nut Cheerios.
Browsing the aisles at the same Publix, Walmart, and Target every few weeks to see how many more dollars and cents will be on your receipt.
In August, a stick of Dove deodorant at Publix was $2.87. On Tuesday it was $4.59.
At Target last month a carton of 18 eggs set you back $1.29. That same carton of eggs will run you 60 cents more at $1.89.
But don’t just look out for the prices; look at the amount too.
There are multiple different sizes of the Honey Nut Cheerios boxes at Walmart, but two of them are marked as the family size. One is 18.8 ounces, and the next family size box is 19.5, and both are marked as the same price.
Dr. Claar calls that shrinkflation. “It’s never as concentrated as it happens to be right now when firms don’t want to make their customers angry by raising the price, so they try to disguise what in fact are price increases. The sticker price just stays about the same.”
And don’t expect the prices to go down any time soon.
“The bad news is that the prices that have been rising lately will continue to rise over the next 12 months,” Claar added.
To save some money before hitting the aisles:
- Make a list and stick to it.
- Don’t shop when you are hungry.
- Don’t forget printed coupons and apps.
- It could be more difficult to get your favorites, so consider other brands or generics.