Grocery and Dining Costs Soar Over 25% Since Pandemic Began, Squeezing Consumer Budgets

Grocery prices have risen 25% since the pandemic began, leaving consumers angry over food costs. Prices remain high despite some retailers cutting prices on select items.

Between January 2020 and January 2024, wholesale food prices rose 22.4% - the second highest level in 15 years. Prices for processed foods also hit 15-year highs.

Restaurant meal prices have reached record levels - up 25.6% overall since 2020. Urban sit-down restaurant meals hit an all-time peak.

Ingredients costs for bakeries and cafés have spiked, forcing them to raise prices. A 50-lb bag of flour now costs up to $22, up from $12-$14 pre-pandemic.

While some price cuts are happening, experts say decreases won't be universal. Also, consumers may have higher expectations for quality and food experiences, skewing inflation perceptions.