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Grocery Costs

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AFL-CIO Report Warns Digital Price Tags Could Cost Jobs and Raise Grocery Prices
economy1 month ago

AFL-CIO Report Warns Digital Price Tags Could Cost Jobs and Raise Grocery Prices

A new report by the AFL-CIO Tech Institute warns that the widespread adoption of electronic shelf labels in US grocery stores could eliminate up to 191,633 jobs and cost workers $6.9 billion annually. The report argues that these labels facilitate 'surveillance pricing,' allowing retailers to adjust prices based on personal data and market conditions, which could further increase grocery costs for consumers already struggling with inflation. While manufacturers promote the technology as a cost-saving measure, unions and policymakers argue it enables dynamic pricing and reduces labor hours. Several states have already banned surveillance pricing, and public opinion polls show strong support for restricting digital price tags.

via The Guardian|
#afl-cio#economy#electronic-shelf-labels
"McDonald's Struggles with Inflation as Consumers Opt for Home-cooked Meals"
business2 years ago

"McDonald's Struggles with Inflation as Consumers Opt for Home-cooked Meals"

McDonald's stock is down as CFO Ian Borden noted that lower-income consumers are opting to eat at home due to rising grocery costs, which have decelerated more than dining costs according to the latest Consumer Price Index (CPI) reading. This shift in consumer behavior reflects a trend of increased frugality and value-seeking amidst inflation, impacting fast food giants like McDonald's.

via Yahoo Finance|
#business#consumer-behavior#grocery-costs
"Consumers' Creative Tactics to Combat Rising Food Costs"
economics2 years ago

"Consumers' Creative Tactics to Combat Rising Food Costs"

Despite falling inflation, grocery prices in the US have surged over 21% since the start of 2021, outpacing the overall 18% pace of inflation. Experts predict that relief for consumers is unlikely to arrive soon, with low-income Americans being disproportionately affected. Rising food prices are attributed to ongoing supply chain issues, a small cattle inventory, an Avian flu outbreak, a worldwide grain deficit, and increased wages for food service workers. Federal Reserve Chair Jerome Powell has indicated that high prices could persist unless there is a severe recession, with prices remaining substantially higher than before the pandemic.

via Fox Business|
#consumer-spending#economics#federal-reserve
"Kellogg's CEO Sparks Controversy with 'Cereal for Dinner' Suggestion Amid Financial Struggles"
business2 years ago

"Kellogg's CEO Sparks Controversy with 'Cereal for Dinner' Suggestion Amid Financial Struggles"

Kellogg's CEO, Gary Pilnick, faced backlash after promoting "cereal for dinner" as a cost-saving measure for struggling families amidst rising food prices, with some consumers criticizing the disconnect between his suggestion and the reality of expensive cereal prices. Pilnick's comments come as Americans are spending a significant portion of their income on groceries, and the internet's response to his remarks has been largely negative, highlighting the challenges of affording basic food items.

via USA TODAY|
#business#consumer-response#food-prices
"Understanding the Paradox of Rising Food Prices Despite Cooling Inflation"
economics2 years ago

"Understanding the Paradox of Rising Food Prices Despite Cooling Inflation"

Despite overall inflation cooling, food prices continue to rise, with restaurant prices increasing at a faster pace than grocery costs. Factors contributing to the rise in food prices include higher labor costs, record-low cattle numbers driving up the cost of beef, and supply issues due to climate change. Fast-food prices have also surged, impacting low-income consumers disproportionately. While grocery prices are forecasted to moderate later this year, restaurant meals are expected to continue rising.

via CBS News|
#consumer-spending#economics#food-prices