It Isn't Your Imagination: Cooking at Home is Getting Way More Expensive
Americans are paying 4.3% more for meats, poultry, fish, and eggs, according to reports.
In the age of coronavirus, even ramen noodlers are learning to cook. And while some argue that eating out is cheaper than making food at home, the general consensus is that smart savers spend time in their own kitchens. But is that still the case now that demand for groceries has increased so substantially?
According to a monthy consumer report released by the US Bureau of Labor Statistics on Tuesday, it may actually be cheaper to order takeout right now. This month, the data showed a 2.6% spike in grocery store prices, the sharpest increase since February 1974. Americans paid 4.3% more for meats, fish, poultry, and eggs (the spike for eggs individually was 16.1%). And if this is scaring you into going vegan, know that fruits and vegetable prices ticked up 1.5% as well, and breakfast cereal and bakery products were 2.9% more expensive. (It's pretty cool to go vegan, though.)
The increase in prices is likely due to an increase in demand in combination with factory shutdowns and supply chain issues. We've already seen major chains like Kroger and Costco set limits on the amount of meat you can purchase, and you've probably seen your share of empty meat shelves.
Back to the takeout thing -- it's the golden age of food deals at fast-food restaurants right now, and some chains are even catering their deals to the shortage. For example, due to a shortage of beef, Wendy's chicken is super cheap.