The big problem with food cost inflation is that it is extremely bimodal. Fresh and frozen green veggies are still around $1-$2 a pound. However, now a bag of chips is $5. If you weren't able to afford the time cost of making food from scratch before, you are taking the brunt of food cost increase. IMO, this is another reason to believe the "most inflation is from greed" line. Our farmers up north aren't paying more for illegal mexicans to pick the broccoli, and gas is the same price it was quite some time ago, so their produce isn't significantly more expensive and they aren't really even earning more money. Even beef in our local store is the same price it used to be, including the weekly cheap sale stuff.
But the big conglomerates that own all the branded products saw an opportunity to jack up prices without taking all the heat.
Speaking of which, if you grab a package of mccormick's chili seasoning off the shelf in your store, it will tell you to buy a 15 oz can of tomatoes. Cans of tomatoes have been 14.5oz for at least a decade, and this seasoning product has had that recipe on the back changed at least 4 times in as many years, yet they never admit to the shrinkflation that happened to those cans of tomatoes.
But the big conglomerates that own all the branded products saw an opportunity to jack up prices without taking all the heat.
Speaking of which, if you grab a package of mccormick's chili seasoning off the shelf in your store, it will tell you to buy a 15 oz can of tomatoes. Cans of tomatoes have been 14.5oz for at least a decade, and this seasoning product has had that recipe on the back changed at least 4 times in as many years, yet they never admit to the shrinkflation that happened to those cans of tomatoes.