Eggs, coffee, and beef are all getting more expensive

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why your grocery bill is going up again.

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange.

00:02Here's what we're watching on the street today.

00:04It's Fed Week, and investors are playing it safe.

00:07While word on the street is the Federal Reserve will lower

00:10interest rates by a quarter percentage point,

00:12investors are not sure how many cuts to expect in 2025.

00:16The Nasdaq closed at a record high on Monday.

00:19Bitcoin touched a fresh record high as well.

00:22On Wednesday, Wall Street will get

00:24a read on industrial production and an important update

00:28on retail sales.

00:30And speaking of retail, if you're

00:32feeling woozy at the supermarket checkout line,

00:35the return of higher food prices might be the culprit.

00:38According to the government's November Consumer Price Index,

00:41the cost of eating at home rose half a percent

00:44on a month-to-month basis and 1.6%

00:47from the same time a year ago.

00:50So which aisles are grocery shoppers experiencing

00:52the biggest sticker shock?

00:54Egg prices surged 37.5% from the same time last year.

00:59So-called other condiments, like mayonnaise,

01:02which is made mostly of eggs, up 16.1%.

01:06Frozen non-carbonated juices and drinks like orange juice

01:09cost 17.2% more.

01:12Dried beans and peas up 7.4%.

01:16Beef and pork chops up 5%.

01:18Instant coffee up 4.6%.

01:21Food inflation is back for a number of reasons.

01:24Bird flu is hurting egg production.

01:26Drought has pushed cattle raising to a 70-year low.

01:30And the effects of climate change

01:31are showing up in every food group on the planet.

01:34The only caveat?

01:36Flour, breads, and baked goods were the only categories

01:40where food is cheaper now than it was a year ago.

01:44That'll do it for your daily briefing from the New York

01:46Stock Exchange.

01:47I'm Conway Gittens with The Street.

01:51For more information, visit nyseagrant.com.