TL;DR
Gasoline and eggs have experienced significant price increases, but identifying other products with price spikes requires careful observation. The White House acknowledges inflation and expects it to persist, although some supermarket items, like chicken breast and bacon, have decreased in price in certain areas. Rising input costs, supply chain disruptions, and weather conditions contribute to price dynamics. The NBC News tracker provides data on consumer goods prices from various retail stores, while the Bureau of Labor Statistics’ consumer price index offers additional information. Independent grocers can boost foot traffic using Evidnt, a free small business store locator available on Square and Clover.
Consumer Goods Price Tracking
Several consumer goods saw extreme price increases in the last year, especially gasoline and eggs. However, it can be difficult to identify which products are experiencing the most significant price spikes without careful observation. NBC News reports the average prices at the point of sale since May 2022 for six popular supermarket items: orange juice, eggs, chicken breasts, fresh ground beef, bacon, and bread.
They can also compare prices paid by other shoppers across other major metropolitan areas.
The White House acknowledged that inflation is increasing and is expected to persist. Despite this, at least one supermarket item has decreased in price in several areas. In New York, both chicken breast and bacon have gone down in price (bacon went down a whopping $1.15 as of June 2023).
According to the Federal Reserve, prices are accelerating and are projected to continue rising. Input costs, particularly for food and fuel, are higher, which places pressure on grocery prices. Additionally, supply chain disruptions and weather conditions also contribute to these dynamics.
The data in this NBC News tracker is provided by NielsenIQ. The data was obtained from actual checkout prices paid nationwide at various types of retail stores. This includes grocery stores, drugstores, mass merchandisers, selected dollar stores, selected warehouse clubs, and military commissaries. A secondary resource for average price data is the Bureau of Labor Statistics’ monthly consumer price index. The CPI incorporates data collected by human collectors and encompasses other food product categories.
The prices of common consumer goods have changed in the last thirteen months. The interactive chart has data from multiple metropolitan centers across the United States.
If you are an independent grocer, bodega, or convenience store owner who sells these items you can get get a lot more foot traffic from customers via Evidnt, a small business store locator available for free on Square and Clover.
