Inflation has hit Dealer Joe’s famously reasonably priced bananas.
The Monrovia-based grocery chain confirmed Monday it had raised the person value of bananas for the primary time in additional than twenty years, from 19 cents every to 23 cents, or a 21% value hike.
In an announcement, Dealer Joe’s spokesperson Nakia Rohde stated the current value change “nonetheless represents an amazing on a regular basis worth for bananas.”
“We solely change our costs when our prices change,” Rohde stated, “and after holding our value for bananas at 19¢ every for greater than twenty years, we’ve now reached a degree the place this alteration is critical.”
Though seemingly small, the worth bump represents extra than simply 4 pennies.
Dealer Joe’s is taken into account one of many extra reasonably priced grocery chains within the nation, and its single-priced fruit one of many firm’s most beloved merchandise. The 19-cent banana was voted the highest produce merchandise within the Dealer Joe’s fifteenth Buyer Selection Awards.
The change additionally displays a broader nationwide development. Though the U.S. financial system total is robust, groceries have turn into dearer for the reason that COVID-19 pandemic, when inflation took off and on a regular basis meals costs out of the blue surged.
In 2022, grocery costs elevated by 11.4%, based on the U.S. Division of Agriculture. The warfare in Ukraine and the avian influenza, or hen flu, compounded already skyrocketing inflation prices.
The development continued in 2023, when grocery store and grocery costs bumped up one other 5%. Meals value inflation is anticipated to sluggish in 2024 however stay barely larger than a yr in the past, based on the division.
The common value of a pound of bananas was 58 cents in March 2020, based on the U.S. Bureau of Labor Statistics, however had elevated to 63 cents by February 2024.
Rohde stated that though Dealer Joe’s bananas now value extra, the corporate was capable of decrease costs for different well-liked gadgets.
That features uncooked almonds, down a greenback to $3.99 per pound; romaine hearts have been reduce 50 cents to $2.99; and natural tri-color bell peppers have been decreased 50 cents to $4.49. Inexperienced onions at the moment are 99 cents, “our lowest value in a minimum of a decade,” Rohde stated.
However change takes time. As of early Monday night, Dealer Joe’s web site nonetheless boasted its 19-cent banana.
“Heck, should you’re feeling actually wild,” the web site says, “you should buy a giant bunch of 5 stunning bananas for lower than a buck!”
