Grocery Prices Going Up
By: Dylan Brooks
Updated: October 27, 2010
AUSTIN -- It might cost you more for that bagel or that glass of milk.
Some Austin bakeries say they're already noticing a price hike on their end, where grain is starting to gradually get more expensive. In fact, prices are slowly creeping up on a number of different staples, and it's going to affect everyone. Michael Brandell of the University of Texas says that this comes "at a time when the U.S. Economy is not doing well, and families are already hurting. This couldn't come at a worse time."
There are several causes for this spike, such as a growing world economy and a weaker dollar. Add to that poor harvests in Russia and the U.S., and supply is below demand. Stores now have to choose whether they eat the cost, or pass it on to customers.
These changes will also have an impact around Thanksgiving. Turkeys cost 15 percent more this year.
