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Grocery Prices Are About to Spike 10% for the Rest of 2021, Insider Predicts

Eat This, Not That! logo Eat This, Not That! 10/23/2021 Hayley Starshak
Woman looking at a receipt with full grocery cart at the grocery store © Shutterstock Woman looking at a receipt with full grocery cart at the grocery store

Grocery shoppers have noticed their supermarket receipts have gotten shorter, but the total cost has gone up. Retailers across the country have reported item shortages, worker shortages, and shipping delays, which impact the prices of the food on the shelves. Unfortunately, one grocery store owner claims the price increases are about to get worse. (Related: These 5 Beloved Grocery Store Chains Are Closing Locations Right Now)

Gristedes Supermarkets CEO John Catsimatidis recently told Fox Business he expects food prices to spike again in the coming weeks. Gristedes is a New York City-based supermarket chain with more than 30 stores in Brooklyn, Manhattan, and Westchester.

"They're going to drop all promotions, they're going to have their main products, and prices are going up," he says. "I see over 10% in the next 60 days."

Catsimatidis claims grocery stores are going to try to "get ahead of the curve" in order to keep food on the shelves and costs as low as possible.

Even staple foods like milk and eggs are not immune to price increases, according to USDA data. In Kansas City and Philadelphia, customers are paying upwards of $5 per gallon.

Price increases may be causing customers to rethink their grocery shopping habits. A recent study shows that frozen food spending has risen dramatically during the pandemic because shoppers believe it is more cost-effective. The study reports that frozen food sales went up 21% in 2020, and the trend is continuing into the end of this year.

"Fresh food can be significantly more expensive at baseline than its frozen equivalent," the study states. It reported that nearly 6 in 10 customers believe frozen food prices are more stable than fresh produce.

For more info about what's happening at the supermarket in your neighborhood, read these next: 

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These Are the Top Grocery Trends for 2022, One Major Chain Says

The 100 Unhealthiest Grocery Foods in America

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