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Grocery prices could continue to drop into 2017

Posted at 9:54 PM, Oct 11, 2016
and last updated 2016-10-12 00:42:31-04

DENVER -- Grocery prices have been dropping for about a year.

Some items in particular are significantly cheaper compared to the same time last year.

Just how much cheaper? Denver7 found a dozen eggs selling for 2-19 a dozen at this Lone Tree Safeway.  That's about a dollar less than this time last year.

Milk is also dropping at about 40-cents for a gallon.

If you're in the mood for a big roast, head to the meat case. Beef is a bargain at about 50 cents per pound last.

What's driving this cheap streak? It's partly competition as more discount stores like Trader Joes enter the local market.

In addition, supplier production costs are down and those savings are betting passed on you.   

"Demand never really went down. It's just that the price went up because the supply was tight.  Now there's plenty of beef right now," said Greg Bloom of the Colorado Beef Council.

But it's not all good news. If you're looking for fruits and vegetables to eat with your steak you may have to shop around.  The drought in California is causing some produces to spike.

The price of margarine and butter may also cost more.

Overall industry insiders feel the lower prices could remain into 2017.

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