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Monday, July 25, 2011

Dinner Costs 5 Percent More Than It Did a Year Ago

Posted By on Mon, Jul 25, 2011 at 8:20 AM

click to enlarge Even Botoxed models register shock at how expensive food has gotten.
  • Even Botoxed models register shock at how expensive food has gotten.

According to USA Today, the federal Bureau of Labor Statistics just reported that the price of food eaten at home -- as opposed to in restaurants -- increased 4.7 percent from June 2010 to 2011. According to the bureau's national Consumer Price Index, the price of all consumer goods has gone up 3.6 percent this year. Grocery store prices are outpacing those of all other consumer goods with the exception of used cars (5.1 percent) and gasoline (35.6 percent) -- the latter probably has something to do with the price of food.

Five percent is noticeable, even to less price-conscious shoppers like SFoodie. While some manufacturers have responded by quietly shrinking the size of their packages -- we're paying the same, but for less -- others are passing on the hikes. USA Today also reports that, so far, consumers are the only ones suffering. Shares in major grocery store chains are up, some in the double digits. And one analyst told the newspaper he considers Whole Foods completely safe from recession-oriented backlashes over rising costs: "We view their consumer as best positioned to absorb higher prices in a slow growth environment."

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Follow me at @JonKauffman.

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Jonathan Kauffman

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