Beef prices across New York City grocery stores skyrocketed by 14% over six months, with ground beef going from $5.80 a pound in July to $6.62 a pound in December. This drastic increase is consistent with national averages, where the cost of beef rose 16% since last year.
Grocery stores in low-income neighborhoods actually had higher prices than those in more affluent areas, according to data collected by Gothamist reporters over six months. In one neighborhood, ground beef was sold for $7.59 a pound at CTown in Brooklyn, while just a few blocks away at Foodtown, it cost $5.49.
Regional chains like Foodtown had the cheapest prices, followed by national chains. Aldi had the lowest price of all, with a single pound of ground beef costing $2.22. However, H Mart significantly increased the average cost for a basket of items at a national store, making it 33% more expensive than Trader Joe's and $5 more than Whole Foods.
Experts say that larger national chains typically have lower prices because they can buy in bulk from suppliers. But those stores don't usually open in neighborhoods that need them most. According to Samina Raja, a food systems expert, big retailers like Wegmans and Trader Joe's could be "leaving money on the table" by not opening locations in low-income areas.
The price of ground beef is influenced by supply and demand, with regional producers experiencing droughts limiting their ability to produce more. The four major beef producers control pricing to a certain degree in the US market.
On the other hand, eggs saw significant price drops over six months, from an average of $4.49 for a dozen in July to $3.67 in December. According to Patrick Penfield, consumers should be aware of seasonal changes and look for sales, coupons, and deals.
When it comes to staple food items like whole milk, beans, and rice, prices remained relatively stable over six months. These items have long shelf lives, making them easier for grocers to price and profit from their sales. However, experts note that produce is a different story, with prices fluctuating day by day due to supply and demand.
As consumers navigate the changing food landscape, it's essential to be aware of seasonal changes, shop around for deals, and consider freezing items like ground beef and eggs when they're at their cheapest.
Grocery stores in low-income neighborhoods actually had higher prices than those in more affluent areas, according to data collected by Gothamist reporters over six months. In one neighborhood, ground beef was sold for $7.59 a pound at CTown in Brooklyn, while just a few blocks away at Foodtown, it cost $5.49.
Regional chains like Foodtown had the cheapest prices, followed by national chains. Aldi had the lowest price of all, with a single pound of ground beef costing $2.22. However, H Mart significantly increased the average cost for a basket of items at a national store, making it 33% more expensive than Trader Joe's and $5 more than Whole Foods.
Experts say that larger national chains typically have lower prices because they can buy in bulk from suppliers. But those stores don't usually open in neighborhoods that need them most. According to Samina Raja, a food systems expert, big retailers like Wegmans and Trader Joe's could be "leaving money on the table" by not opening locations in low-income areas.
The price of ground beef is influenced by supply and demand, with regional producers experiencing droughts limiting their ability to produce more. The four major beef producers control pricing to a certain degree in the US market.
On the other hand, eggs saw significant price drops over six months, from an average of $4.49 for a dozen in July to $3.67 in December. According to Patrick Penfield, consumers should be aware of seasonal changes and look for sales, coupons, and deals.
When it comes to staple food items like whole milk, beans, and rice, prices remained relatively stable over six months. These items have long shelf lives, making them easier for grocers to price and profit from their sales. However, experts note that produce is a different story, with prices fluctuating day by day due to supply and demand.
As consumers navigate the changing food landscape, it's essential to be aware of seasonal changes, shop around for deals, and consider freezing items like ground beef and eggs when they're at their cheapest.
anyway i think we need more regional chains and independent stores in low-income areas to make prices more affordable. and its crazy that aldi is still the cheapest option lol who has time to shop around for deals when you're struggling to make ends meet? 
I'm still trying to wrap my head around this whole grocery thing 
. Like, why do prices vary so much depending on where you live? It's not fair that neighborhoods with low incomes are getting ripped off by higher prices 
. I mean, who needs all those fancy national chains when someone's gonna open up a store right next door and undercut them? 
But seriously, what can we do about it? It's not like these big retailers are doing it out of malice... or are they just really good at making bank 
anyway i'm def stocking up on eggs and freezing them ASAP since they went down so much 
i heard whole milk is still pretty cheap tho, like 3 bucks a gallon or something? how do you guys deal with rising food prices?
. Until then, I'll just be over here eating my frozen ground beef 
ground beef went from $5.80 to $6.62 in 6 months?! that's crazy 
and it's not just nyc, it's national averages too! 
i think it's because of droughts affecting regional producers, but also cuz big retailers like trader joe's and whole foods are kinda leaving low-income areas behind 
and let's be real, who doesn't love a good sale or coupon? 
.
️ especially in low-income neighborhoods where they already have a hard time making ends meet 
like foodtown in brooklyn is literally 2 blocks away from another store selling the same thing for cheaper $5.49 vs $7.59 thats a big difference $$ its like the big chains know this but still dont bother opening up shop there 
especially when you think about all the families who struggle to afford basic groceries let's hope those big retailers like Wegmans and Trader Joe's start opening up locations in these areas so everyone can have access to affordable food prices 
.
). And hey, eggs are still pretty affordable! Silver linings, right? 
. It's like, big retailers just leave money on the table by not opening up in areas that need them most 
. I've started shopping at Aldi and it's been a game-changer 
.
. It's all about being resourceful and making the most of what you have 
!
. And honestly, I don't even buy much meat anyway because of the price 
. But seriously, have you been seeing these prices everywhere too? 
beef prices in nyc are crazy!! i mean 14% in just 6 months?! that's insane! and it gets even crazier when u see that low-income neighborhoods are paying more than high-income areas 
but seriously, can't we just get more affordable food options everywhere?! 
these grocery prices are crazy! i mean 14% increase in just six months? that's like me trying to save up for a new gaming console and it's already old 
that's like a win-win situation. but, honestly, i'm still confused about the whole supply and demand thing. can someone explain it to me in a way that makes sense?