Grocery shoppers are hoping for some respite from higher prices when they have to wait a while to see their next receipt, says one of the largest grocery chains in America.
Company leaders from Kroger organized a second quarter earnings call On 9 September it was further discovered that since inflation is higher than expected, the business plan for the rest of the year is affected. This means grocery costs will remain high – about 2% to 3% more than usual.
Here’s what customers can expect, says Chief Financial Officer Gary Millerchip:
“We are being disciplined in working with suppliers to manage these growths, and passing on higher costs to the customer when it makes sense to do so is difficult to predict, however, as we have seen. As shared last quarter, we believe that inflation as a whole for the year will be higher than originally envisaged in our 2021 business plan.”
This is not new information. Before the start of summer 2021, things like this Hot dogs, beef, wine and other groceries were still expensive. Even now, “some officials estimate … some of the highest price increases in recent memory,” wall street journal it is said. So, because prices haven’t dropped in months, grocery stores have ramped up supplies of all kinds of items from sugar to frozen meat.
Buyers will have to wait and see which items will become even more expensive in the coming months. In the meantime, here are 30 Shopping Hacks to Save Money at the Grocery Store.
For more information on what’s happening at your local supermarket, read these:
And to get all the latest grocery store news delivered to your email inbox every day, Sign Up For Our Newsletter!