Posted 3/1/2024, 11:00:00 AM
Grocery Prices Soar 21% Since 2021, Squeezing Low-Income Shoppers
- Grocery prices have surged over 21% since early 2021, outpacing overall inflation
- Food inflation is disproportionately affecting low-income Americans, who spend a bigger chunk of income on groceries
- Supply chain issues, shrinking cattle supply, avian flu, and the Ukraine war are driving up food costs
- Persistently high grocery bills are weighing on voter sentiment and Biden's approval rating
- Prices of staples like bread, milk, and eggs are still substantially higher than pre-pandemic levels
