Food Prices up 33% as US Battles Highest Grocery Price Spike in 50 Years — with No Relief in Sight

Food prices in the US have shot up by 33% over the last seven years, the biggest jump in grocery prices in half a century — with no relief in sight.

While rampant inflation was to blame for the biggest surge during the pandemic, prices have continued to soar since, with ground beef best demonstrating the out-of-control market as it hit $6.82 a pound in June, a 79% increase from 2019, according to the US Bureau of Labor Statistics.

The fact that prices have remained stubbornly high for years means that they are not something Americans can simply weather through, but a new normal for shoppers, said Scott D. Martin, a partner at the Kingsview Wealth Management firm.

“While inflation has cooled from its peak, grocery prices have not returned to where consumers remember them,” Martin told The Post.

“Food prices have effectively reset to a permanently higher level after years of supply chain disruptions, labor shortages, transportation costs, and broad inflationary pressures,” he added.

The new normal was clearly laid out in the US Bureau of Labor Statistics’ records over the last 14 years. (Read more from “Food Prices up 33% as US Battles Highest Grocery Price Spike in 50 Years — with No Relief in Sight” HERE)