MYRTLE BEACH, S.C. (WBTW) — U.S. food prices rose more than 1% in a month and 9.8% in the past year, according to the latest data from the Bureau of Labor Statistics, leaving farmers and other business owners feeling the pinch.
“Everything that goes up is something that in one way or another we use,” said Tim Fox, owner of Fox Farm, which was forced to raise the prices of its whole chickens because of price increases of other supplies. “We had went up this year because I’m just dealing with the price of fuel, but it’s feed.”
Inflation is also a big issue for Indigo Farms in Little River.
“Gas prices have affected our costs,” co-owner Sarah Bellamy said. “My husband’s concerned about what the cost of seeds is going to be. The cost of his irrigation has gone up, fertilizer cost has gone up.”
That has made it difficult to keep prices in check, she said.
“We’re trying to keep the cost reasonable for our customers, but our margin of profit hasn’t been as much as it has been,” Bellamy said.
Higher gas prices have also impacted the business, she said.
“One thing we are seeing is with the gas prices, I feel like people are not out shopping as much,” Bellamy said. “Maybe people will shop one day a week when they were coming two days a week. … We’re seeing some of that in our sales.”
Yvonne Washington, owner of Island Unisex Jewelry in Myrtle Beach, said she has seen the cost of some supplies double in just one day.
“I went back to get some more, and the price was double,” Washington.
Washington is trying to work around the price increases.
“I try to buy my stuff when it’s on sale in order to keep the prices lower for the customer,” she said.