Why do the “official” numbers on food inflation state it’s gone up by tiny amounts like 8%, 19%, 11%, etc. but most of the foods I see has gone up by a minimum of 50%, 100%, 80%?

Question

Why do the “official” numbers on food inflation state it’s gone up by tiny amounts like 8%, 19%, 11%, etc. but most of the foods I see has gone up by a minimum of 50%, 100%, 80%?

In: Economics

Answer 1

As a department manager of a large grocery store a lot of my shit has doubled in price since 2021. Quite a bit of it is cost from The manufacturer but a lot is also greed from the store. It’s always shocking when I see what the gross profit of some items are.

But as others have said the number comes from a blanket of all the items in that category. Some will have gone up a little while others have skyrocketed.