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Food, gas prices continue to rise countrywide

Posted at 7:18 AM, Mar 04, 2021
and last updated 2021-03-04 10:32:09-05

Experts are saying they are seeing a rise in food prices, along with gasoline prices, with no end in sight.

One major factor is the cost of gas also rising thanks to that deep freeze in Texas.

The storm shut down the country's largest refineries, raising the cost of shipping goods.

AAA says the national average for a gallon of gas is now 31 cents higher than a month ago.

But the problems don't stop there, economist say higher prices at grocery stores are thanks to:

  • Supply-chain issues.
  • Shopper-capacity limits in stores.
  • More people eating at home.

The government is now estimating a 6 to 9% increase this year in soybean prices and a 5 to 8% increase in wheat prices.