Today, Explained Why groceries are still so expensive
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Mar 4, 2024 
Wizzy Kim, a senior reporter at Vox, and Elizabeth Pancotti, a strategic advisor at the Groundwork Collaborative, dive into the rising costs of groceries. They discuss how prices have surged by 25% since 2019 and the troubling trend of 'shrinkflation' where products shrink while prices rise. The duo also examines supply chain disruptions and the government's struggle to implement effective price controls. With insights on market competition and comparisons to European grocery strategies, they shed light on what's really driving up our grocery bills.
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Grocery Price Inflation
- Grocery prices have increased about 25% since 2019, pre-pandemic.
- Food costs hit a 30-year high, impacting consumer spending.
Shrinkflation Example
- Consumers are experiencing shrinkflation, paying the same price for less product.
- A 12-ounce soda can is 75% more expensive than before the pandemic, despite being the same size.
Drivers of Food Inflation
- Higher input costs, like raw materials and transportation, contribute to rising food prices.
- Companies exploit opportunities to raise prices beyond necessary, increasing profits.