Food Prices Increase This July; Here Are the Specific Numbers

Ever since the war in Ukraine, grain has been in scarce supply, causing grocery store prices to skyrocket. In fact, according to the Institute of Grocery Distribution (IGD), the UK “has suffered the highest costs of groceries since the 1970s. More vulnerable people need to skip meals”.

In addition to the war in Ukraine, the increase in gas prices caused the transportation of groceries to become more valuable also contributing to an increase in food prices. Specifically, the IGD reports that “prices will rise at a rate of 15% almost doubling that of the 1970s”. As such, here is a list of the Top 10 most purchased grocery store items according to Thrive Analytics and their anticipated prices come this July:

#10: Soda: A 2-liter bottle of Coke will increase from $2.14 to $3.21 while a 2-liter bottle of Pepsi will increase from $1.98 to $2.97. A ten-pack of Coke will go from $5.64 to $8.46 while a ten-pack of Pepsi will go from $6.18 to $9.27. Have fun preparing your next barbecue party this summer!

#9: Cereal: The average price of cereal at the moment is about $3.27 per box with Kellogg’s cereal at around $4.71 per box and General Mills cereal at $4.02 per box. With the 15% price increase, Kellogg’s cereal will then cost $7.06 while General Mills cereal will cost $6.03. If looking for the lowest prices in the cereal aisle, it may be best to purchase store-brand cereal.

#8: TV Dinners: Known as an inexpensive alternative to traditional meals, this July may no longer be the case. TV Dinners will increase from $2.87 to $4.30 per box and, depending on the size, may peak at over $5.00. This means that the price of a small TV dinner will be equivalent to that of a full meal in the 1990s. Yikes!

#7: Chips: Another Barbecue staple, the prices of potato chips will increase by 15% as well. This means that a bag of Doritos will increase from $3.48 to $5.22 while a bag of Lays Potato Chips will go from $4.79 to $7.18. Other common chip brands include Cheetos and Tostitos, both of which will increase from $3.98 to $5.97. Many people agree to either purchase store brand chips or pass on the MSG for now.

#6: Milk: One of the first grocery items that most people think of is milk perhaps because it is such an important ingredient or because the dairy aisle is nice and cool. Whatever the reason, a quart of milk will increase from $2.51 to $3.76 while a gallon of milk will increase from $5.39 to $8.08.

#5: Laundry Detergent: Due to its size and usage, laundry detergent is one of the more expensive grocery store items, averaging around $12.00 per container. Arm and Hammer brand, for example, will increase from $8.87 to $13.05 while Tide brand will skyrocket from $9.13 to $14.69! And they said toilet paper was a valuable cleaning product…

#4: Eggs: Not only are eggs a common cooking ingredient but according to analyst Laurie Dove, about 76 billion eggs are consumed each year. One dozen Grade A eggs will increase from $3.99 to $5.98 while larger eggs will go from $4.49 to $6.73. Fortunately, however, egg production is quite common in the US with a population of over 6 million chickens. Therefore, it is unknown if the price for eggs will truly be this high.

#3: Meat/Poultry: Ground beef and chicken have seen a massive price increase throughout the years. It has increased from $2.87 per pound in 1999 to $3.19 per pound in 2009 to $3.99 per pound in 2019. This summer, however, these prices will witness the highest increase in price over 3 years with meat increasing to $5.98 per pound and poultry increasing to $6.49 per pound. Again, however, because America is a leading provider of meat and poultry, it is unknown if prices will be this expensive. However, this may also mean more chickens will be killed off to feed the population, so was it really worth it?

#2: Peanut Butter: As obscure as it may sound, peanut butter is bought more regularly than milk and eggs. Peanut Butter is most commonly used in peanut butter and jelly sandwiches as well as other foods such as marmalade. In the words of William Buckley, “If peanut butter were more expensive, it may as well be a gourmet food”. With the increase in already taxing high prices on peanut butter, this may well be the case. A $5.49 container of Skippy peanut butter will cost $8.23 come this July while other brands such as Peter Pan and Jif will go from $3.47 to $5.20. Quite expensive for a substance made from peanuts.

#1: Bread: According to Thrive Analytics, bread is the most commonly purchased food item with sales of over $4.5 million annually. It is also one of the cheaper grocery store items with an average price of around $4. This summer, however, the average price will then be $6. Wonder bread will increase from $3.15 to $4.72 while butter bread will go from $3.24 to $4.86. This means that bread sales will now become around $6.75 million annually and comprising the bulk of people’s supermarket visits.

“The rise in food prices will affect impoverished families the most”, says economist James Watson. “Remember that many households struggled with food prices before the war on Ukraine began. With rising fuel prices, lower class communities are becoming more valuable, especially when there are children in the household”.

“We also recognize the farming industry is facing challenges”, Watson continues. “”We have given greater certainty in accessing seasonal migrant labor by extending the Seasonal Workers visa route until the end of 2024. 30,000 visas will be available in 2022, with the potential to increase by 10,000 if there is clear evidence of need. Only peace and withdrawal of Russian troops can fully end this struggle and we only wish the best.”

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