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For the first time in 20 years Trader Joe’s has raised the price of its individually sold beloved bananas.
The cost of the fruit has increased by nearly 20% from $0.19 to $0.23.
The Monrovia based chain in a statement said the new price now better represents the tremendous everyday price of bananas. They also expressed that this change after two decades only comes because it is necessary.
The chains bananas might cost more now, but there is a bright side. The price of other popular items such as raw almonds, romaine hearts, bell peppers, and green onions are now seeing their lowest price drops in about a decade.
Trader Joe’s is considered one of the most affordable grocery chains in the country and its price changes reflect a broader national trend of expensive groceries.
The U.S. Department of Agriculture states groceries have only become more expensive since the COVID-19 pandemic. The war in Ukraine as well as the avian flu in 2022 saw costs increase by 11.4%. The trend continued into 2023 when supermarkets bump prices another 5%.
Food price inflation is expected to slow in 2024 but as of now they remain slightly higher than a year ago.