"20 Foods That Will Double In Price This Summer"
By Epic Economist
"If you're fed up with soaring grocery prices, unfortunately, we bring some more bad news. Thousands of grocery staples will cost you 50% more than they did last summer, and some of them are likely to face even steeper increases due to a myriad of issues impacting food production. From drought to snow to storms and massive floods, extreme weather has battered the U.S. in recent years, and shoppers likely will feel the lingering effects at the grocery store over the next few months. Good weather, especially in the spring when planting season starts, is crucial to growing a bountiful crop of fruits, nuts, and vegetables. But the extreme swings this year have left many growers behind schedule, which means we are no longer talking about temporary food inflation, but a new normal where prices are more expensive, and do not return to historical averages.
For example, the global inventory of maize, rice, wheat, barley, and oat remains about 11% lower than it was before the Ukraine crisis broke out in February 2022. The two countries are major cereal producers, but the conflict is impeding farmers from exporting their goods. This is keeping the cost of cereals at the stores about 26% higher compared to 2021 levels. And prices are going to rise even further considering that our domestic production has been disrupted by extreme weather events that caused extensive losses. Cereal-based products will cost 8% to 9% more in 2023, and that increase can add up fast and actually make a world of difference for many struggling families. All in all, cereals may end up costing almost 40% more than they did in November 2021.
Americans' favorite bakery goods including bagels, pretzels, cakes, pies, muffins, and more, are becoming increasingly more expensive, impacted by the soaring costs of cereals, flour, vegetable oils, and dairy all at the same time. While prices already rose by 34% compared to 2021 levels, another 12% increase is likely to occur by the end of the year, with peak prices expected during the summer.
Meanwhile, barbecue season is right at the corner, and all .meat lovers should expect to spend significantly more than they did last year. All of the top beef steak cuts like fillet, scotch fillet, porterhouse, T-bone, rump, round, as well as ribeye, brisket, lamb chops, chicken legs, and pork, and even humbler alternatives like beef mince, sausages, and hamburgers are going to cost between 12.8% to 25% more this summer compared to a year ago, and about 45% to 55% more compared to 2021 levels, according to estimates released by the USDA. That's because this year our domestic beef supply is far smaller than it was in 2022. The cattle selloff that was spurred by drought and higher feed prices initially resulted in a surplus of meat in our food supply chain. But now that these products have already been sold, and more supply isn't coming in, we're likely to see some empty shelves and much higher prices as seasonal demand peaks over the next couple of months.
Now more than ever is time to get ahead of these increases and start stocking up on everyday necessities before they become far too expensive and out of our reach. Today, we listed several products that will cost you roughly double than they did just a year ago."
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