BREVARD COUNTY, Fla. — The monthly grocery budget for the average American is only getting more expensive, according to the Bureau of Labor Statistics.
Its monthly Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6% in January. The food index went up another 0.9% last month following a 0.5% increase in December.
What You Need To Know
- Inflation for food prices rose yet again in January
- Inflation has been above 0.5% for seven of the last 10 months
- President Biden said the federal government would take an “all hands on deck” approach to the issue of inflation
The agency noted that: “This was the seventh time in the last 10 months it has increased at least 0.5%.”
Local grocers, like those at Melbourne Beach Market in Brevard County, said they are constantly having to monitor the prices of their goods and are changing out the price tags on merchandise on a regular basis.
Manager Ron Goodman said they work with several different vendors for their goods in order to find the best prices so they don't have to pass along the increased costs to their customers.
“We’re able to look at pricing — if the price isn’t able to go down, we’ll look for a different vendor for a lower price and we adjust the price down," he said. "And if it goes up, we try keep the percentages to as low as possible."
Those who track inflation report that there doesn’t seem to be reprieve for rising food costs in the near future.
Officials in the White House have tried to stay optimistic in light of the latest inflation report. They issued a statement from President Joe Biden in which he said that his administration is taking an “all hands-on deck” approach to the issue.
“While today’s report is elevated, forecasters continue to project inflation easing substantially by the end of 2022,” Biden said. “And fortunately, we saw positive real wage growth last month, and moderation in auto prices, which have made up about a quarter of headline inflation over the last year.”