Since April 2021, the cost of food prepared at home has risen by almost 20%.
Within that category, the price of some cooking staples have skyrocketed. Margarine prices increased by 54%, largely due to the war in Ukraine, which is the world’s No. 1 exporter of sunflower oil.
That’s the biggest increase of all food items in the Labor Bureau’s consumer price index, with a 13-ounce tub of margarine increasing from about $3.25 to $5 in the last two years.
Relatedly, milk and bread production have also been affected by the conflict in Ukraine, with prices rising 19% and 21%, respectively. Rising fertilizer and labor costs are contributing factors, as well.
Chicken prices have soared, too, as wholesale producers struggled to meet demand after cutting back production early in the pandemic. Prices declined slightly after peaking in late 2022, but they’re still up 20% over the last two years.
Relatedly, avian flu decimated egg-laying flocks of chickens, which accounted for a dramatic surge in egg prices last year.
