NASHVILLE, Tenn. (WTVF) — Prices haven’t risen as much as they did a year ago, but food inflation is still putting a strain on families.
Prices for tomatoes, pure beef hot dogs and even eggs rise significantly from June to July.
All this is in Wednesday’s consumer price index report.
We’ve combed through the Consumer Price Index report for you, keeping a special eye on your shopping list.
Basic foods such as meat, poultry and eggs have become 3% more expensive compared to last year. While fresh produce was 0.5% cheaper year-on-year, consumers paid less in June. Overall, food is about as expensive as it was last summer.
With this in mind, A&M Marketplace in Nashville is not raising prices at any of its stores.
“We’re not going to raise prices for our customers,” said Martha Lupai, co-owner of the store. “Our profit margin is so small, so we just hope that people know our story and come, that more customers come and they make up for it.”
The Nashville Farmers’ Market store is located in a part of the city that has long been considered a food desert.
“Many people cannot afford fresh vegetables to eat healthy. We don’t want them to come here and say we can’t afford it, or little girls and boys to come and say what kind of mango is that? And when they ask about the price, we don’t want to say they can’t afford it,” Lupai said.
Lupai knows what it’s like to experience price shock. Small businesses that rely on supplies are hit hard by the inflated prices.
“Very high. I wonder what’s going on here. I also understand the gas – gas is expensive for the truck drivers. Sometimes we get deliveries from other states,” she explained.
Entrepreneurs who share in the burden of inflation are doing their customers a great favor.
We discussed the latest inflation report with David Globke of SFA Wealth Management in Murfreesboro and talked about the impact of inflation on small businesses. Globke said most owners pass some of the extra costs on to consumers.
Just as people compare prices for insurance, Globke recommends comparing the same prices for other goods.
“A change in consumption habits and the food you buy in the supermarket can certainly have a big impact,” said David Globke. “Inflation … will remain stubborn.”
All in all, the inflation report should not discourage consumers. Overall, inflation was 2.9%, which is the first time since 2021 that it has been below 3%.
Globke said it looks very likely that the Federal Reserve will cut interest rates soon.
“Going from 9% to just under 3% … is a mammoth project. I think we should all take comfort in the fact that the outlook is trending upward. There will be periods of elevated inflation again. There will be items that I don’t know if they will ever return to pre-COVID prices,” he said.
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She is over 80 and almost blind. Woman from Franklin continues to crochet for those in need
“Here’s a great story that proves that everyone has something to give, regardless of age OR personal challenges. Our Austin Pollack introduces us to Ms. Sylvia Mooney. At 80 years old, she is not sitting still. Instead, she is using her skills to create compassion for others… one stitch at a time. Her crochet work goes to nonprofits to help our homeless neighbors. You might be surprised to know that she manages to do all of this while battling a serious health issue. Bravo Sylvia!”
-Rhori Johnston
