Prices in Texas Are About to See a Big Increase
Look out, wallet. An all-out assault is coming to your bottom line. You have probably noticed that prices on everything are higher year over year, whether you shop online or in the Killeen, Texas area.
Feels like the major political buzzword for the past couple of elections has been inflation. Grocery prices in particular have been among the largest increases across the country.
Even when the average price of an item might be lower than the national average, when your price increases by the higher percentage it has the largest impact on your personal and family budget.
Why are the grocery prices going up so much?
According to this article with NBCDFW.com,
"The USDA says the higher costs here come from retailers who’ve passed increased transportation costs to consumers."
Another factor causing major price increases is the simple rule of supply and demand. With more people coming to Texas every day, there will need to be a correction to the supply of available goods.
What food items are most affected?
“We know those prices are rising on everything - milk and eggs and all your staples and so if you can get some of that here and put some of that money to something else, that’s a great benefit to our neighbors.”
When will inflation levels become less aggressive?
Prices have leveled off recently, and inflation rates have steadily been 6%-7% versus the double-digits we've see over the last couple of years. Our hope is 6%-7% isn't another "new normal." According to Forbes, relief could get here before the year is over, in the 2% range, and the worst of it has definitely passed.