Grocery prices drop for first time in a year, but shoppers not seeing relief at register (2024)

‘I have two kids now, so feeding them has really just done a toll on our budget’

ROANOKE, Va. – Nowadays, a trip to the grocery store can cost hundreds and you’re likely leaving with less.

For the first time in a year, inflation data shows that grocery prices have dropped. According to the latest Consumer Index Report, grocery prices fell by 0.2 percent from March to April. The price of meats, poultry, fish, eggs, fruits, and vegetables all dropped in April. The price of cereals, bakery products and dairy increased.

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Although the spike in food prices is slowing, local shoppers say their dollar doesn’t go far.

“I think something people forget is it’s compounding. So yeah, it’s 1 percent now. It was 2 percent before then. But over time, it builds and builds and builds. Prices aren’t going down. So feeling the effects of that, for sure,” said one shopper, Matthew Pendleton.

“[Prices] are definitely a lot more than I remember them being,” said another shopper, Caitlin Bigman.

Even though inflation on food prices has stalled, Pendleton said he’s still feeling the sting at the register.

“I come out with less stuff. make more choices. Might take a little bit longer. put something back on the shelf. think about it a little bit more. So Just more selective in what I’m actually buying,” said Pendleton.

Overall, food prices are up 2.2 percent from last year. The cost of dining out is also up 26 percent since before the pandemic, which has many Americans cooking meals at home.

Another shopper, Caitlin Bigman, said it’s getting harder to feed her family.

“I have two kids now, so feeding them has really just done a toll on our budget,” said Bigman.

She said she has to make choices about what foods fit in her family’s budget.

“Get more creative. Try and pick things, meals, that I can kind of use the same things over and over again, so we’re not doing grocery runs all the time,” said Bigman.

“Maybe in the beginning, it was reacting to the market and now I think it’s just, kind of, greed,” said Bigman. “You have to buy food. There’s not an option. So, you’re going to pay what you’re going to pay.”

10 News asked Kroger how the company sets its food prices and got a statement that reads:

“As a company, we strive to provide the best value to our customers while remaining competitive in each geography we operate in. Our pricing strategy considers various factors such as competitive activity and customer preferences. This approach allows us to adapt to the unique dynamics of each market, remain sustainable, and offer pricing that is both fair and competitive.

Kroger is a destination for fresh affordable food with zero compromise on value, quality, or convenience. Kroger also offers our customers a variety of ways to save through our loyalty program where customer can take advantage of weekly sales, digital deals, fuel points and Our Brands savings and additional promotions and special offers.”

Kroger

Copyright 2024 by WSLS 10 - All rights reserved.

Grocery prices drop for first time in a year, but shoppers not seeing relief at register (2024)

FAQs

How much is a loaf of bread in 2024? ›

Bread now costs over $2 per pound — $2.03, to be exact, as of January. Last January, the same pound cost just $1.89 for a year-over-year increase of 7.7%. A standard loaf of sliced white bread weighs 20oz, which means a loaf costs about $2.54, so $20 can buy you just shy of eight loaves.

Are grocery prices going down in 2024? ›

Food prices are expected to continue to decelerate in 2024 compared to recent years. In 2024, prices for all food are predicted to increase 2.2 percent, with a prediction interval of 1.2 to 3.2 percent.

Why are groceries so expensive in the US? ›

Updated June 12, 2024, to reflect the most recent consumer price index data. Food prices have always been volatile — especially so during the pandemic. Thanks to a combination of overall inflation, supply-chain disruptions and tariffs on certain foreign imports, food prices have risen 26% since the start of 2020.

Who controls grocery prices? ›

The president does not control grocery prices in the U.S. Instead, “prices generally are set by sellers, and price change typically comes from market forces,” according to Steve Reed, an economist at the U.S. Bureau of Labor Statistics.

How much was a loaf of bread in 1965? ›

Prices have really risen in the last 50 years! In 1965, a loaf of bread cost 20¢; now it's $2.25.

How much did a loaf bread cost in 1950? ›

Question: M In 1950, a loaf of bread cost $0.12 and today it costs $2.37 on average.

Will grocery prices ever go back down? ›

So while it's unlikely prices will drop, Caloura said economists are predicting the costs of goods will stabilize. She said there's also a chance that manufacturers could undo the "shrinkflation" they put into place a few years ago.

What is the most purchased grocery item in the US? ›

What is the most popular item in grocery stores? If the pun didn't make it obvious, the most popular grocery store item is bananas. Apparently, Americans can't get enough of the number one best-selling grocery store food. The average American consumes around 90 of the potassium-filled fruit every year.

Why is everything so expensive in 2024? ›

It happened because Bidenomics spent and printed record amounts of money over the last four years. Like any other good or service, the value of money depends on supply and demand. If there is more money in the economy than the market can absorb, its value will come crashing down, and prices will increase.

Will food ever get cheaper? ›

Probably not,” said Ricky Volpe, an ag economist and associate professor at Cal Poly. “The best we can hope for is that food price inflation is going to continue to slow down,” he said.

Who controls the price of everything? ›

This competition of sellers against sellers and buyers against buyers determines the price of the product. It's called supply and demand. The price is the measure of how scarce one product is compared to all other products and all incomes.

Who controls American food? ›

Supermarket chains dominate

Until the 1990s, most people shopped in local or regional grocery stores. Now, just four companies – Walmart, Costco, Kroger and Ahold Delhaize – control 65% of the retail market. “Corporate consolidation can drive up food prices and reduce access to food,” said Starbuck.

What does a loaf of bread cost now? ›

How much is bread in America? Bread can cost from $2.50 to $6.00 a loaf in the United States. It depends on the quality of bread and the type of flour and other ingredients used. In some stores a person can buy it cheaper but the quality is not there.

How much will a $1.42 loaf of bread cost in 25 years based on inflation? ›

How much will a $1.42 loaf of bread cost in 25 years based on inflation? A. $1.99.

How much did a loaf of bread cost in the 1960s? ›

1 loaf of bread: 20 cents. Fast food hamburger: 20 cents.

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