Noticed an increase in the price for breakfast foods in the grocery store? That is because the prices for such breakfast staples as bacon, coffee, eggs and orange juice has been on the rise. The biggest increase in nearly 2 1/2 years occurred last month with a 1.2% increase.
Cosumers are encouraged to be on a bargain hunt for these items. But already consumers are cutting back saying they may not be bringing home as much bacon.
What are the reasons?
- Drought in Brazil- has decreased the coffee production by 20% this year
- Disease epidemic to U.S. pig farms- this is increasing mortality rate in newborn piglets. Traders are not sure how much this will effect pork production as it is the first time U.S. pig herds have been affected by this particular disease
- The orange crop in Florida has also been hit this year. A citrus greening disease has orange production down almost 25%
These are the reasons breakfast has started coming with bigger sticker shock and this increase in food prices is forcing shoppers to search for deals and cut back. Couponing, making a list, and searching local ads for super market sales each week are the consumer tips to try and curb some of the rising costs.