As expected, on Wednesday, the Federal Reserve took the biggest step yet towards curbing inflation, raising its benchmark interest rate by three-quarters of a point, the biggest single increase since 1994. They also signaled they're not done as fears of a recession loom.
We took a look at the numbers that affect Ohioans every day – the cost of food.
The rising price of fuel is something Americans can attempt to dance around by driving less, walking, or taking public transit. The rising price of your grocery bill is not as easy to manage.
"Really can't really make up the difference — it's just, I gotta buy it, I got four kids. I don't really have a choice,” said Cleveland resident Shadaeah Kirk.
What Kirk and others are doing is changing what they serve at home to stretch their dollar.
"Before I would do like steak, maybe crab legs, but now we don't, that's not it, I'm not doing that no more. I can't be that fancy no more,” she said.
While groceries have gone up as a whole 11.9% over last year, we've broken down some of the items that have outpaced that rate.
Chicken and eggs are impacted by not only inflation but the avian flu in the U.S., so if you’re looking to grill some chicken this weekend, the price of a pound of boneless chicken breasts is up nearly 40% since the beginning of 2019.
The cost of a dozen eggs has increased a staggering 81% in that same time.
Coffee with your eggs also shot up some 30% over the last three years.
"I’m feeding a family of ten right now, so it's a lot,” said Cleveland resident Kala Wolsthleger.
She says there's no extra money to help out.
"My rent is too high where I am at right now, and I can't cut back on nothing. I can't save money or nothing,” Wolsthleger said.
Northeast Ohio farmers remind us that the price we're paying for a lot of items now is based on last year's harvest, with the true impact of what's happening now, especially the cost of fuel, fertilizer, and weed killers, to impact grocery prices even more in the months to come.
Check out how the prices of other items on your grocery list have changed over the years here.
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