Over the past 3 years, the price of groceries has skyrocketed. While food prices tended to increase by around 2% in previous years, average food prices shot up an incredible 11% from 2021 to 2022. The results from this year aren’t much better; in February, the food-at-home prices’ annual rate noted a 10.2% increase from the previous year.
Many users have taken to the internet to share their sticker shock at the currently-high food prices, with some claiming that prices are rising at a higher rate than what is being reported. Everything from fast food restaurants to grocery store chains have been virally criticized for their high prices, with one user noting that the same shopping list from 2020 now costs 50% more at Walmart.
Another creator on TikTok has recently sparked discussion for a similar comparison. In a video with over 38,000 views, TikTok user Hannah (@heywhatsupdawg) compares her online grocery orders from Target ranging from winter 2021 to today.
The increase in cost from then until now? A staggering 42%.
@heywhatsupdawg & every report online claims the increase is 11% or less 🤢🫣 ##costofliving##twenties##postgradlife##groceryprices##foodprices##groceryinflation##inflation##budgeting##financialeducation##financialtransparency##tampafl##madisonwi##groceryhaul##whatispend##priceincrease ♬ original sound – heywhatsupdawg
“This is honestly so terrifying, especially as an entry-level employee making a lower salary compared to an average adult,” she says. “Between the food increases and the rent increases, it actually terrifies me.”
“I hope this is validating to some of you [who], if you feel like you’re doing a bad job budgeting, or you’re wondering why you’re spending $100 every time you leave the house, it’s not because you’re doing a bad job—it’s because the media is lying about the increases that we’re seeing, and they’re much higher than they’re saying they are,” she concludes.
While some price inflation can be attributed to supply chain shortages and other issues, corporate profit-taking is increasingly coming into the limelight as customers grow frustrated with rising prices.
An article from the Federal Reserve Bank of Kansas City noted that data they analyzed indicated that “markups could account for more than half of 2021 inflation.” Another article published in Bloomberg in March noted that, even as costs on the suppliers’ side fall, these savings are generally not being passed on to consumers.
In the comments under Hannah’s video, users noted their own dismay while shopping for groceries.
“I would say this is super accurate across the board,” wrote one user. “Comparing my 2020 instacart from Aldi to today (50-75 vs 200+), it’s at least a 38% increase.”
“They’ve also decreased the sizes – look at the oz,” added another. “So price has gone up and size down.”
“I cry looking at my old orders,” offered a third. “And yet my wage hasn’t changed to account for inflation. Gotta love America.”
The Daily Dot reached out to Target and Hannah via email.
