Grocery prices are expected to skyrocket in 2022

Australians are warned the cost of groceries is set to rise next year with a major supply shortage expected to hit the country.

9Saver’s money-saving expert Joel Gibson says the intermittent nature of the coronavirus pandemic has shattered global supply chains and is pushing up gas prices at the grocery store, along with anyone tried to order anything from overseas struggling to get the items delivered on time.

“It’s widespread. The UN has a world food price index and it has risen 27% in the past year alone,” Gibson told Today.

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“When you look at the different types of food, they are all affected: dairy products increased by 19%, vegetable oils by 50%, cereals by 23% and sugar by around 33%. . “

Gibson said a fertilizer shortage due to China’s reduced exports of urea, an additive used to help reduce emissions from diesel engines, to other parts of the world has had an impact on fuel. for diesel engines and Australia is five to six weeks from completely running out of the additive.

He said that this shortage had a huge influence on the prices of groceries and that the impact was now spilling over to most Australian products.

“It’s not just the imported products, it’s now affecting our local supply chains, our trucking, our fertilizer supply here,” Gibson said.

“Milk has already gone up by 10 cents in all major supermarket chains last week. Coffee will cost about a dollar more per cup in 2022 – we’ll see that across the board.”

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Gibson said people should look to the competitive supermarket giants to save money during this time and keep tabs on catalog deals early in the week.

“There are a lot of price matches, especially with Coles and Woolies, so they line up with price and watch each other closely,” he said.

“Aldi is about 10% cheaper on its private labels, but shop the catalogs.

“Every week the big supermarkets have promotions that last for a week and some of them are 50 to 60% off.

“If you look at the catalogs that come out on a Monday and buy the promotions, it can save you a small fortune.”

Gibson said there are also apps like Frugl, Half Price, and Shping, which you can use to keep tabs on big savings before you hit the stores.

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In 2022, Gibson said if you can shop at more than one supermarket, it will help you choose the big promotions.

“You can get the cheap milk here, the cheap pasta there and the olive oil there,” he says.

“It’ll save you over $ 1,000 a year – and use the unit price on the stickers, because it makes you the difference between a small package that may not be as good as the bigger product.”

Watch the full segment with Joel Gibson above.

The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal goals, financial situation or needs. Before acting on any information on this website, you should consider the relevance of the information to your goals, financial situation and needs.

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