Lunchflation and Shrinkflation Hurting Your Budget

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The return to office life is growing more expensive by the day. But let¡¯s focus on the rising cost of food from your morning coffee to that lunchtime salad. 

¡°I can tell from having the same 1budget that I¡¯ve had before all of this, I¡¯m... I would get less. It seem like the bags would get smaller and smaller.¡±

The index for food away from home has increased 7.4% over the last year... that¡¯s according to a Labor Department report. Prices for food purchased to eat at home rose 11.9% according to the Bureau of Labor Statistics -- that¡¯s the biggest 12 month jump since 1979.

¡°It is kind of like a 2scary feeling because just know... thinking about what I used to be able to get to come before all of this 3compared to what I can get now.¡±

Meanwhile, Starbucks raised prices in the US earlier this year and said costs could continue to rise. And since the start of last year, salad chain Sweetgreen raised its menu prices by 10%... that¡¯s according to its recent 4earnings report. The 5budget pinch comes as the Fed is expected to announce another 6interest rate 7hike this Wednesday to help 8tame inflation. And as the White House works to 9bring down those 10soaringcosts... 

¡°Make no mistake about it, I understand inflation is a real 11challenge to American families.¡±

Then... there¡¯s also ¡°12shrinkflation.¡± The AP reports companies are 13shrinking packages to deal with rising costs for 14raw materials, 15labor and 16transportation.

For example, Chobani flip yogurts have shrunk from 5.3 ounces to 4.5 ounces. Bags of Fritos Scoops marked ¡°Party Size¡± used to be 18 ounces and are now 15.5 ounces at most retailers. And PepsiCo is downsizing Gatorade bottles from 32 to 28 ounce bottles.

Article from https://cnn.ybmnet.co.kr/cnn_class/2452