Grocery prices are spiking at a time when consumers are buying more groceries than they have in years. The pandemic closed restaurants, stores, workplaces, and schools, but it also disrupted food supply chains. While the coronavirus hasn't posed a significant threat to the food supply, it has created shortages and price increases due to the supply chain disruptions. Meat and poultry prices are up 11%, egg prices 10%, and cereal and fresh vegetables 4%.
The higher expenditures come at a time when many Americans are struggling financially.