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Grocery shopping lately has actually been expensive for the typical American, and lots of cost boosts at the supermarket have been described by continuous inflation. The "food in the house" category was up a record-making 13.5% year-over-year in August 2022, a boost not seen because the late '70s, per the U.S. Bureau of Labor Statistics.

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Numbers have actually boiled down since then - - especially the previous couple of months, with food at home now relaxing 10.2% and overall inflation cooling to 6%, according to the latest consumer rate index report.

So, with inflation coming down, why are grocery rates still incredibly high and climbing? And why are pantry and fridge staples currently double the rate of inflation? As Vox mentioned, white bread is up 22%, flour costs 21% more and butter has actually increased a tremendous 31%.

It's a quandary that has numerous thinking. Per CBS News, "On social media, customers grumble about being ‘‘ baffled' by food rates, along with stressed over the challenge of budgeting for ever-higher grocery costs.".

Some Blame Corporate Greed or Price Gouging at the Grocery Store for Price Hikes.

Food price hikes at the grocery store could simply come down to business greed, some critics argued. According to CBS, "Food producers might be raising costs just due to the fact that they can." CBS mentioned a business guard dog group that has "accused food manufacturers and sellers of improving prices needlessly since that was more feasibleat a time when customers are braced for inflation.".

Vox added, "The inflation story offers the perfect jumping-off point for business to raise costs, and significant food producers are making the most of the moment to boost their profits." Add to that the chorus of supply chain issues and the continuous Russia-Ukraine war, food prices might be affected by a variety of aspects. While these struggles have hampered food production, some suggest they are also being utilized as another rationale for pure profit-making.

Vox gestured toward big profits that many of the leading food service providers in America reported in 2022. Cargill reported profits of $165 billion, with $6.68 billion of that being direct revenue. Tyson Foods "doubled its earnings" between 2021 and 2022, while cereal and packaged products giant General Mills reported their profits increased 97% in 2022.

Supermarket Mergers May Also Be To Blame.

Current grocery store mergers are also leading to monopolies that increase rates. If the Kroger-Albertsons merger currently on the table goes through, Vox declared it would result in that brand-new cooperative and Walmart, together, managing 70% of the grocery market. The short article explained that Kroger's earnings in 2022 were above $4 billion.

Even with real implications like supply chain concerns, crop catastrophes and bird flu damaging the egg industry, "There's disagreement on whether the higher costs that have arised from those issues ought to be passed on to customers - - which is largely what has been taking place," Vox declared.

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When it comes to feeding their families, these are genuine questions facing Americans who have actually made difficult decisions. According to Vox, citing a study by Propel, nearly a third of households are "skipping meals, eating less or relying on food banks" as rates skyrocket. Adding to the concern is the reality that the pandemic-era increase to food stamps will quickly concern an end, leading to about $95 less monthly to invest in food for lots of SNAP recipients.

CBS News reported there could be improvements as 2023 continues with food price boosts leveling out more around 8% rather than the double digits consumers have actually seen over the previous two years.

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This article originally appeared on GOBankingRates.com: Grocery Costs 2023: Is Inflation the Only Reason Prices Are Soaring?