HOUSTON — Here's some great news! Grocery store prices have been dropping for the last eight straight months, according to the Bureau of Labor and Statistics.
Officials call it food deflation, and it means shoppers are getting more bang for their buck on staples like milk, eggs and cheese.
The surplus on eggs and cheese is so high, the U.S. government bought 11 million pound of queso and $12 million worth of eggs to give to food banks. That'll make a lot of omelets!
Just so you know; milk is 40 cents, eggs are about $1 and ground beef is 50 cents cheaper than it was about a year ago.
The U.S. dollar is becoming stronger overseas
The dramatic drop in prices is due to the the surplus in food production, which outweighs demand both here and overseas. It also helps that the U.S. dollar is becoming stronger and items are now more expensive outside the States.
A second major factor are grocery store wars. Kroger, H-E-B and other supermarkets are fighting for your money.
Enjoy it while it lasts! Because as we all know, one day prices will go up again!