Major changes are already taking place at US grocery stores, and during the fall and winter, many grocery essentials will become priceless as demand soars but supplies don’t keep pace. We haven’t seen the worst of food inflation, and big companies like Oreo maker Mondelez are still announcing price increases for the second half of 2023.
Lots of popular products such as frozen pizzas, waffles, and snack cakes are about to see some steep price increases that will certainly shock American shoppers in the next few months.
Prepare to pay more for pepperoni, jerky, bacon, ham, sausages, and other packaged meats in the next few quarters. Meat processors are still coping with rising labor costs, fewer workers, and other operational issues that are making the production of packaged meats cost more while output goes down.
If you’ve been grocery shopping in recent weeks, you probably already noticed how prices are changing fast, and from this point on, these products aren’t going to get any cheaper. Whenever you find deals at stores, buy some of your favorite packaged meats and a few extra to save throughout the next seasons.
The price of popular and handy breakfast meals is about to go through some seasonal changes. With kids going back to school, and temperatures going down in the months ahead, demand for frozen breakfast foods is expected to rise by 16.43 percent, according to estimates released by the top grocer in the US, Walmart. The price of its Great Value Buttermilk Pancakes is going to rise from $3.93 right now to $4.48 by the end of the third quarter.
Meanwhile, Eggo Original Waffles and Kellogg’s Blueberry Waffles are going to see a 40-cent increase, from $4.49 to $4.89 by the beginning of September. Further price increases can take place during the winter, but specific data hasn’t been provided yet. In any case, if you don’t want to feel the pinch of the upcoming price hikes, make some room in your freezer to stock up on these goods while they’re still cheaper.
Great Value Hamburger Dill Chip Pickles are now selling for $2.67 for a 32 fl oz jar. Although that’s only 8.7 percent higher than a year ago levels, in 2023, food makers faced a series of challenges to produce and distribute these products, and the impact of these supply chain problems is about to hit stores and raise the cost of pickles between 12 to 17 percent during the third and fourth quarter. For the year, experts at The Cold Wire.com estimate that the cost of this beloved condiment will jump by 25 percent.
Relief is expected by the second quarter of 2024 when production levels are expected to stabilize. Until then, adding a few extra jars to your cart next time you go shopping may help you fight inflation and potential shortages.
Even though Americans continue buying considerable amounts of chocolate each month, slower production and elevated costs for sugar are leading to a decline in supplies, which is quite worrying considering that Halloween is right ahead, and many holiday season recipes require chocolate.
CNBC reports that in June, chocolate prices rose by 14 percent. With the cost of cocoa soaring in the global market right now, we should brace for some serious sticker shock in the next few months. For that reason, for this video, we decided to track which products are expected to face higher consumer demand and higher prices for the rest of the year.
Here’s the list:
- Snack Cakes
- Cookies and Crackers
- Packaged Meat
- Packaged Macaroni and Cheese
- Frozen Waffles and Pancakes
- Ramen Noodles
- Nuts and Trail Mixes
- Canned Meats
- Breakfast Sandwiches
- Frozen Pizza
Video and article courtesy of Epic Economist.