Inflation is a natural occurrence that happens when the prices of goods and services rise over time. It’s something we’ve all experienced at some point in our lives, whether it’s the price of gas going up or the cost of a movie ticket increasing. While inflation is a fact of life, it can be especially difficult for retirees to keep up with the rising costs of groceries and other everyday necessities.
According to AARP, Americans are seeing higher prices for groceries this summer. Some of the grocery items that have been hit hardest by inflation include eggs, milk, butter, coffee, and bread — staples that many of us rely on.
What’s causing these price increases?
In the case of eggs, there was a nationwide avian flu outbreak earlier this year that led to the death of millions of chickens. This reduced the supply of eggs, driving up prices. The price of milk has also been volatile in recent months due to the cost of corn, which is used to feed cows, and labor costs.
As you shop this summer, be sure to keep an eye on prices and look for ways to save. One way to do this is to buy in bulk when possible and to take advantage of sales and coupons. You can also join a seniors’ discount club like AARP or AAA, which offer discounts on groceries and other items.