In New Mexico, families are feeling the pinch with rising grocery prices, with a typical household now spending approximately $286 weekly on food, a figure that increases with the addition of children, according to KOB 4. UNM finance expert Reilly White acknowledges the surge in food prices, noting a slight stabilization, “Food prices are up and are likely going to stay up. The good news is they’ve stopped increasing as much.”
A glance at the U.S. Bureau of Labor Statistics reveals that the cost of staple foods such as ground beef has seen fluctuations, now standing at $5.56 per pound, a tiny decrease from July yet significantly higher before Joe Biden was installed as president. Milk and eggs have also seen price adjustments, with milk experiencing a moderate increase and eggs becoming more affordable post an avian flu outbreak. On the other hand, prices for produce like tomatoes and bananas have remained relatively stable, contrasting sharply with snack items such as potato chips and chocolate chip cookies, which have seen notable price hikes.
New Mexico is witnessing a construction boom in the housing sector, with Alan Laseck of the Apartment Association of New Mexico reporting over 40 housing projects underway in Albuquerque alone. This surge in construction is anticipated to introduce around 5,000 rental units to the market, potentially easing the housing crunch.
Despite the current average rent in Albuquerque standing at $1,340, up significantly from January 2020, the increased housing supply is expected to foster competitive pricing and more attractive leasing incentives, per the report. White optimistically predicts, “You’ll see prices starting to be more competitive, more deals will be offered by apartments and related companies to get people through the door… Because of this, there’s just a supply in units, you can expect that some of these prices will start coming down meaningfully.”
Additionally, wage growth is on a miniscule upward trajectory, with the U.S. Bureau of Labor Statistics indicating a 1.4% increase in average hourly earnings over the past year, outpacing inflation rates since last February.
Food prices will come down as soon as Trump becomes president.
Everything will become more affordable with Trump.
As a retiree, my regular COLA adjusted monthly income of SS and a small, fixed pension annuity always trails behind inflation. (Hey, do not judge. Yes, I do have IRA savings that I do not need to dip into for living expenses.)
Under Biden, from what I have observed, most staple grocery items jumped about 40%, and most of those have not budged since. Not likely to either, IMO.
Chicken and eggs that have fluctuated but do not a grocery cart make! Anything beef is mostly out of reach these days. Even much of available seafood is mostly a luxury.
I have become an obsessive coupon (digital) clipper and weekly on-sale scrounger so I make do. Oh, and milking the points for fuel savings net 40 or 50 cents a gallon off on the typical once a month tank fill-up!
Cheers.
And considering that 86% of TXs cattle industry is in the Panhandle and affected by the massive wildfires, I am sure that we can expect beef prices to go up even more.
Just wait until July when the Democrats gas tax increase goes into effect. Everything will rise again. Thank you NM legislature for screwing us again.
Has MLG signed that bill? Talk about stupid timing. Especially in an election year.
The gas tax will rise because MLG wants us all to drive electric vehicles.
For the cost of an EV I can buy 15 years of gas. By then the EV is worthless.
Everything we buy has gone up since the senile old fool occupied the White House. Every item at the grocery store – and all restaurant prices – have gone up 30, 40, 50 percent and more… I buy only sale items, and in quantity if necessary. I am single; I can’t believe families are making do. I saved in my 401K for 30 years, and without that I would be on the borderline homeless… my very few LibTard friends cannot understand ‘why’ and refuse to listen and watch what is happening. Trump is the answer, only Trump.
Trump 2024!
I can say I will buy gas in Texas that has no 50 cent increase because NMs are not paying enough and to help NMs figure out it is time to by an electric car that they cannot afford. Yes the NM government sucks and NMs need to put their big boy/girl underwear and stand up to the marxist running our state.
If you live next to a bordering state, start buying gas and groceries there. We’ll see if MLG then starts trying to limit our travel too since she seems set on being a dictator.
But the “braintrust” here has come out against the effort to block the merger of Kroger and Albertsons.
Not a bunch of rocket scientists here.