A concerned consumer has sparked a nationwide conversation by challenging the official data on the recent surge in food prices, particularly spotlighting the soaring costs of Great Value products.
The findings reveal a startling discrepancy, indicating that the actual price hikes are significantly more than what’s being reported.
The Dilemma
This video, which has garnered over 360,000 views, challenges the reported 4.9% increase in food prices between the summer of 2022 and 2023, as stated by the Consumer Price Index (CPI) Report from the Bureau of Labor ¹.
Ghost stated,
“So prices are skyrocketing, and I decided to do a little deep dive into my own Walmart orders to see like what the deal is here.” She further expressed skepticism about the reported inflation rate, remarking, “But I think that’s a lie.”
The Real Numbers: A Personal Investigation
To substantiate her claims, Ghost compared the prices of items she purchased from Walmart in the summer of 2022 to their prices in 2023.
Her findings were startling:
- The cost of Goldfish increased by 33%.
- Great Value Granola Bars saw a price hike of 41%.
- Great Value Saltine Crackers experienced a 55% rise.
- Ground beef prices went up by 20%.
She observed,
“And one thing I’ve noticed is Great Value seems to be skyrocketing for some reason.”
The “Cheese Tax” and Other Price Surges
Ghost also highlighted the significant price increase in other grocery items. She referred to the “cheese tax” and calculated that the price of a pack of shredded cheddar cheese had risen by 43%.
Other products like Red Barron Pizza, Land O’Lakes Butter, and Heinz Tomato Ketchup also saw price hikes ranging between 30% to 40%.
Drawing a conclusion from her investigation, Ghost remarked,
“So yeah, that 4.9% is definitely looking a little low, and I’m pretty sure that it’s just gonna keep going up.”
Public Response and Reaction
The video sparked a flurry of comments from viewers who shared the same concerns. Many agreed that the actual inflation rate seemed much higher than the reported figures.
One user pondered,
“How do we fight back?? We need to be the resistance.”
Another user commented,
“This was an amazing comparison. They act like inflation was single digits but it’s clearly not.”
The sentiment echoed by another who stated,
“They manipulate the numbers. I’ve been saying groceries are up 30-50%.”
Rising Food Prices in 2023
In 2023[2], the global economic landscape has been significantly impacted by rising food prices, a phenomenon that has been particularly evident in the U.S. The New York Times reported that food prices showed signs of moderation in July, but the overall costs still increased.
This trend has had a ripple effect on consumer behavior, as highlighted by Reuters. American shoppers, grappling with these soaring food prices, have started to cut back on purchases of other goods, such as toys, clothing, and housewares.
This shift in spending habits poses challenges for retailers, with many noting changes in consumer behavior. For instance, Walmart, the world’s largest retailer, observed that while Americans continue to spend, they have become more selective in their purchases.
The company’s CEO, Doug McMillon, pointed out that higher food prices have led to decreased sales in other categories like electronics and apparel.
Furthermore, data from the Labor Department[3] revealed a significant 11.3% rise in the cost of food consumed at home in January compared to the previous year. This inflationary trend in food prices, described as “stubborn” by industry insiders, has led to broader economic concerns, with some experts even hinting at a potential looming recession.
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Sources
- bls.gov/opub/ted/2023/consumer-prices-up-3-2-percent-from-july-2022-to-july-2023.htm
- nytimes.com/topic/subject/food-prices-and-supply
- cnn.com/2023/03/08/economy/food-prices-inflation/index.html
This article was produced and syndicated by Viral Chatter. It was inspired by this video:
@thedivinemaximalist #greenscreen #greenscreenvideo ♬ original sound – ghost
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Martha A. Lavallie
Martha is a journalist with close to a decade of experience in uncovering and reporting on the most compelling stories of our time. Passionate about staying ahead of the curve, she specializes in shedding light on trending topics and captivating global narratives. Her insightful articles have garnered acclaim, making her a trusted voice in today's dynamic media landscape.
