Grocery prices remain high
The cost of food might be down but grocery bill remain high.
COLUMBIA, S.C. (WOLO)—The cost of food might be down but grocery bill remain high.
Food producers raised prices when their costs went up but ingredient prices have been on a down-swing for months.
So, why aren’t they passing along the savings? It may be because they have other expenses that remain higher, like labor and transportation.
But critics say, now that companies see that people will pay higher prices, they are in no rush to give up profits and charge less.
Between January 2022 and January 2023, grocery bills went up more than 11%.
Many food companies are forecasting that they may slow down or pause prices, but not lower them.