Not only have we been paying less at the gas pump over the past year, but grocery prices have also been on a continuous decline in the United States.
The Bureau of Labor Statistics’ Consumer Price Index shows that over the last year, food-at-home prices fell by 1.6 percent.
This is actually the eighth straight month prices have fallen and family staples such as meats, poultry, fish, and eggs fell 0.4 percent in August, its twelfth decline in a row. Some major chain stores say this is hurting their bottom lines, but locally owned stores say it hasn’t effected them too much.
“As to hurting our bottom line, I wouldn’t say there is a he effect hat we see here in the store, but when there’s deflation it does effect everyone,” said Riesbeck’s consumer advocate, Jane Dombroski.
Dombroski says they are happy these reduced prices could be helping the Ohio Valley.
“Because we are family owned, we make the decisions right here. We’re not depending on going out west to the bigger home store, so to speak. So yes, we love our customers. Our customers are very dedicated to us. They always come in, and they’re always complimenting. We know who they are. They’re family, so yes, we do like to pass the prices onto our customers,” she said.
And of course, customers are happy as well. The price of a dozen eggs has dropped by about a dollar, with a gallon of milk dropping by about 40 cents and a pound of ground beef dropping about 50 cents.
“Oh yeah, I would like it to continue. It would be much. My grocery bill is high. I have a grandson living with me, and I still have a son at home too, plus my husband and I, so my grocery bills can be very high,” said shopper Sherry Jackson.