Posted 3/26/2024, 1:59:57 AM
Trader Joe's Raises Banana Price for First Time in Over 20 Years Due to Food Inflation
- Trader Joe's has raised the price of a single banana from 19 cents to 23 cents, the first increase in over 20 years
- Food prices have remained high, with grocery prices nearly 20% higher in 2023 than 2021
- Cocoa and sugar prices are rising, putting pressure on food costs
- Banana prices have been steady over the past year, so the exact reason for Trader Joe's price hike is unclear
- Climate change threatens future banana crops and could lead to more price increases industry-wide
