Americans already feeling the sting of higher prices at the gas pump could soon see another major hit at the grocery store.
According to new economic reporting from Yahoo Finance, grocery prices surged in April at the fastest pace seen in four years, and experts warn prices could continue climbing into the fall.
Data from the Bureau of Labor Statistics shows that food prices overall have increased 3.2% over the last 12 months.
Economists say several factors are driving the spike, including severe weather across the country, international conflict, and ongoing supply chain issues.
Farmers have been dealing with record-breaking heat, historic cold snaps, and wildfires that have damaged crops and disrupted food production. At the same time, concerns tied to the Strait of Hormuz have created challenges for fertilizer supplies, adding even more pressure to farming operations and food costs.
Other issues, including tariffs and shrinking cattle herds, are also contributing to higher prices for consumers.
As families prepare for rising grocery bills, experts say there are still a few ways shoppers can save money at the store.
One of the biggest recommendations is buying store-brand products instead of name-brand items whenever possible. Grocery chains like H-E-B and Kroger often offer lower-priced alternatives on everyday staples such as bread, pasta, soup, sauces, and ice cream.
Consumers are also encouraged to buy larger portions or bulk-sized products when possible, since larger quantities are often cheaper per serving.
Another money-saving strategy is shopping around weekly “loss leader” sales, heavily discounted items stores use to attract shoppers, and planning meals around what is currently on sale.
With inflation continuing to affect everything from fuel to food, economists say consumers may need to adjust shopping habits as grocery prices remain elevated through the rest of the year.