Experts: Stock up on non-perishables

April 29, 2008 6:56:18 PM PDT
There is an issue that could cause an even bigger problem for families in this country than the record-high gas prices. The rising cost of food.

Prices for staples like bread, milk and eggs are up sharply. In fact, egg prices are up 30 percent. So what are consumers to do?

Eyewitness News reporter Joe Torres has more.

Moments after we set foot inside the Costco in Sunset Park, cost-conscious shoppers alerted us to a scary pricing trend.

"Everyday you go there is a new number showing," shopper Naana Obeng said. "And it's going up, not down."

According to experts, that trend will not change anytime soon. So experts are advising the following: stock up on non-perishables now, because even though prices are high, food costs seem destined to go even higher.

Eunice Ashley loves her cooking oil, but...

"The last time I bought it, I think it was $3-something," she said. "But now it's like $9, $9.99."

"This box of cheerios is now $6.99," shopper Maureen Safdie said. "It must have been at least $5 a few months ago."

Need another example of the sky-rocketing cost of food? Flour is a staple in just about every house and restaurant. Last year, $20 Costco got you two 50-pound bags. This year, the same $20 gets you one bag.

Cereal prices are soaring 8 percent a year. Eggs cracked a new high, up 30 percent, according to one estimate. Ground beef and chicken prices saw roughly a 5 percent spike.

"You got to have it, because you can't really tell tomorrow what's gonna happen," shopper Ramy Farghany said.

And that's why you should load up on the pasta sauce, the kidney beans and the cans of tuna. It's better to pay a lot now than a lot more later.