Grocery store prices aren’t coming down anytime soon, experts say
Published: Oct. 1, 2022 at 4:01 PM CDT
(CNN) - We’ve seen the higher prices at the grocery store, and it looks like they won’t be coming down anytime soon.
New government data shows grocery prices climbed 13.5% in August from the year before. That’s the highest annual increase since March 1979.
Food producers say the surge is a result of paying higher prices for labor and packaging materials. They also point to extreme weather, disease and supply issues.
According to market experts, food inflation is expected to moderate next year, but that doesn’t mean prices are going to drop.
Typically, once prices hit a certain level, they tend to stay there or go up but rarely down.
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