Meat, dairy and egg prices all up -- and inflation is largely to blame. Here’s how much more it’s costing you.
Grocery store prices are the highest they’ve been in 40 years, and inflation is largely to blame.
Meal staples such as meat, dairy and eggs are seeing huge leaps in costs.
The latest numbers from the Labor Department's Consumer Price Index show the cost of groceries surged 12% for the year in May -- the largest year-on-year increase since the inflation-soaked 1970s.
"My grocery bill is probably doubled from what I used to pay,” says Ashley Hassane, of Union Beach. “It's like everything is insane."
The cost of eggs went up 32% from this time last year. Meats, poultry and fish saw a 14% increase. Dairy also jumped 12%, as well as fruits and vegetables. Some families are making the switch to buy generic instead of name-brand to save money.
"We have to pay rent and feed two kids, so yeah, it's crazy," says Ron Kuhl, of South Amboy.
On top of the problems with baby formula, tampons are now in low supply.
“Thankfully my son now is out of formula, thank God, but I feel for these moms,” says Hassane. “I don't even know what they're going to do. This is very scary."
When will inflation go back down? It was predicted back in January that it would subside by the end of the year, but the war in Ukraine and high energy costs are complicating the problem.