ARKANSAS, USA — Inflation is the highest we have seen in 40 years.
It's affecting everything in our day-to-day life.
One of the biggest impacts is groceries.
According to consumer price index data, food at home prices leaped 12 percent over the last 12 months.
In the last month alone, prices for cereal and baking products rose 2 percent, dairy went up 1. 7 percent and seafood rose .5 percent.
Steve Goode with the Arkansas Grocers Association said while prices are way up compared to a year ago he thinks high fuel prices are largely to blame.
Goode also owns a few grocery stores and says in his decades in the grocery business he has never seen anything like this.
while prices are up, he said there's much more foot traffic in the stores just not a bump in profits to show it.
“You’re seeing consumers trade down from name brand to private label brands so their dollar will go a little further than those national brands,” said Goode.
Goode also said as a retailer, he hates to raise prices. There is no prediction on when prices will be going down.
DOWNLOAD THE 5NEWS APP
DOWNLOAD FOR IPHONE HERE | DOWNLOAD FOR ANDROID HERE
HOW TO ADD THE 5NEWS APP TO YOUR STREAMING DEVICE
ROKU: add the channel from the ROKU store or by searching for KFSM in the Channel Store.
For Fire TV, search for "KFSM" to find the free app to add to your account. Another option for Fire TV is to have the app delivered directly to your Fire TV through Amazon.
To report a typo or grammatical error, please email KFSMDigitalTeam@tegna.com.