Have you noticed that the cost of bread and other items such as meat keep going up in price? In Cleveland, according to Numbeo, the cost of feeding one person is approximately $362 per month. (source) That means a family of four is spending approximately $1,500 on food each month.
Robb Mackie, president of the American Bakers Association, recently said, "Unfortunately food inflation and the cost of baked goods in the United States will go up more. This will impact the most vulnerable in our society the most."
And the fact is that these prices increases affect much more than just baked goods. For example, the price of fertilizer has skyrocketed.
"Fertilizer has gone up by nearly 200%. Like it's tripled in price." Farmer Catherine McCollum
The prices of chicken breast, ground beef, and pork are expected to go up again significantly over 2022, too, according to Evercore ISI.
When you combine these higher costs with supply chain issues and higher fuel prices, it's easy to see why things are difficult for everyone.
What Can Be Done About This Problem?
If you are struggling with all of these price increases, please know you're not alone. Thankfully, there are options for financial assistance. You have a lot of options if you need some help. First, you can see if you qualify for any assistance with the state of Ohio. Just click here to see if you qualify.
You can get some stimulus money to pay for other bills such as your rent or mortgage which then frees up more cash for groceries. There are many resources available to you such as the Cleveland Housing Network (CHN). You can apply right here to see if you qualify. If you're a homeowner, there are many options as well too. If you're struggling due health issues related to to Covid-19, you can click here. There are also resources available from the Federal Housing Finance Agency too.
What do you think about these price increases? Please feel free to share your thoughts in the comments.
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Disclaimer: Please note that this article is only for educational and informational purposes.