With the July Fourth weekend here, Denver’s grocery stores are preparing for their busiest week of the summer. Shoppers have been invading stores for their barbeque and beverage needs for the holiday, filling their carts to the brim with burger buns and beer. There’s just one problem: Grocery prices are on the rise.
Inflation has hit Coloradans hard in the last five years, and the price hike in the average grocery store bill is where they feel it most. According to the Federal Reserve, the average price of groceries in America has soared 25% since 2019. Another study conducted by the Colorado Sun found that the prices of staple items like coffee, eggs and laundry detergent have gone up by around 35% since 2018. Coloradans are getting fed up paying an arm and a leg every time they go to the grocery store.
“These prices are getting ridiculous,” said Denverite John Martin while leaving the King Soopers off Speer Boulevard and 14th Avenue. “I just paid almost two bucks for a can of black beans, and I’m not too happy about that.”
The Bureau of Labor Statistics found that the average Coloradan family of four pays $1,364 per month on groceries, which is $104 more than the national average. As grocery bills get higher and higher, so does the frustration.
“Going to the store stresses me out now,” said Denver resident CH. “I love cooking, and now it’s just an additional stressor in my life, and I kinda hate that.”
CH said things have gotten so bad that she can’t afford to go to certain grocery stores due to their high prices.
“I’m completely priced out of Whole Foods and Natural Grocers at this point,” CH said. “I can’t justify even going into those stores anymore.”
These increases in grocery prices aren’t just affecting shoppers negatively, but also affecting store employees.
“I rarely went an hour without someone complaining about the prices to me,” said a former King Soopers employee who wishes to remain anonymous. “People would get so upset after seeing their total, and it sucked to deal with.”
Unfortunately, the price tag for the classic Fourth of July staples won’t be improving any attitudes across the state. A bare-bones order of a pound of ground beef, 12 hot dogs with buns, Lays brand chips and ranch dip, a 24-pack of Coors Light, a mixed fruit bowl, and a pack of Kroger brand sugar cookies would cost shoppers just over $70 pre-tax at their local King Soopers.
For those who plan on barbecuing, wallets will be hit especially hard, as the price of beef has skyrocketed in the last 15 months. According to the U.S. Bureau of Labor Statistics, beef is the food product that has increased the most in price since 2023. Ground beef and steaks have seen a price hike of around 7%, while the price of beef roast has increased a whopping 11%.
Some experts, including former U.S. Secretary of Labor Robert Reich, argue the problem is less about inflation—which the Federal Reserve’s relatively high interest rates should be curbing—and more about corporate price gouging.
“The easiest explanation for record corporate profits at the same time prices remain elevated is that corporations have enough monopoly power to keep prices high,” Reich wrote in an editorial for The Guardian.
Walmart, the country’s largest grocery chain, saw a $163 million increase in profits from 2022 to 2023, for a total of over $13.6 billion. Last year, the company paid its CEO $25 million, which is 933 times the median worker’s wages. The near-monopoly power affects almost every aspect of grocery shopping, from the store chains themselves to the actual products. Earlier this year, PepsiCo—whose only major competitor is Coca-Cola—announced that despite inflation dropping, their prices would not follow suit. Just four companies control the processing of 80% of the beef, nearly 70% of the pork and almost 60% of the poultry in the U.S. In 2018, a pound of hamburger cost around $4.09. Now, that same pound will cost the shopper $6.79 at King Soopers, meaning Coloradans will be paying a premium for a cheeseburger on the holiday.
“A couple dollar difference doesn’t seem too bad at first, but it really adds up over time,” CH said. “I feel like before I know it, my bill is like $100 and I didn’t even get that much stuff.”
CH isn’t the only Coloradan who feels this way either. In our Voter Voices survey, an additional 26 respondents raised their concerns about rising grocery prices in the state. The survey found that inflation and the economy were among the top three issues Colorado voters want addressed during the 2024 election cycle.
“How are [the candidates] going to help me afford groceries and housing in this economy of ever-increasing prices?” wrote Megan Garcia from Thornton.
Inflation on food items has slowed in 2024, but groceries are still showing no sign of going down to their pre-2019 prices anytime soon. As Coloradans stock up on their Fourth of July supplies, their grocery store bills aren’t getting them into the holiday spirit.
“Living in Denver is hard, and these grocery prices aren’t making things any easier,” CH said. “I miss the days where I didn’t have to budget every trip to the store down to the dollar.”
