Food Prices Skyrocket in the U.S.

Food Prices Skyrocket as Charities Feed 46 Million Americans (Source The Bureau of Labor Statistics (BLS) reported in July that the average price of ground beef has risen to an all-time high. Over the last five years ground beef prices have risen a staggering 81%. Americans now pay $3.884 per pound compared to $2.147 in July 2009. Droughts in Oklahoma and Texas have contributed to the rising prices. Ground beef is not the only food commodity experiencing a price hike. Severe drought in California—which produces nearly half the nation’s fresh fruit and vegetables—is affecting the price of fruit, eggs and dairy. Since July 2013, the cost of meat has risen 9.3%, fruits and vegetables 2%, and dairy prices have increased 4.3%. “[T]he direction of food prices is somewhat worrisome. Lower and middle income households are likely to be paying a larger percentage of their paychecks for grocery bills,” Chris G. Christopher, director of consumer economics at IHS Global Insight, said. “The rise of food prices makes it more difficult for many American households—especially those households that live paycheck to paycheck.”

Additionally, rising food costs and lower incomes are pummeling middle- and lower-class American.

“I’d rather make a roast with potatoes in the Crock-Pot. My kids like to eat healthy,” Jill Taormina of Ohio told the Huffington Post. “But the price of meat and produce is outrageous.” Taormina, who has two teenage daughters, said, “I can only afford to spend about $100 a month on groceries. I coupon as much as I can, but it’s just not enough.”

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