Wegmans freezes prices on 40 products
Wed, 23 Feb 2011 12:54:44 GMT —
Wegmans Food Markets has announced that it won't raise prices on more than three dozen staple products.
The Rochester-based supermarket chain announced Tuesday that it will freeze the prices on 40 products, including fruit, vegetables, ground beef, pasta and coffee. Most of the items are the Wegmans brand.
It comes at a time when food prices are expected to increase. According to the USDA, the Consumer Price Index for all food is projected to increase 2 to 3 percent this year. You can expect to pay more at the grocery store and at restaurants when you go out to eat.
The USDA says food price inflation was relatively weak for most of 2009 and 2010. They attribute this year's projected increase to higher food commodity and energy prices putting pressure on wholesale and retail food prices.
Meanwhile, Wegmans is implementing this price freeze on many of its products, which will continue through the end of 2011.
Company Chief Executive Officer Danny Wegman says the move is in response to expected food price increases. Wegmans officials say the items chosen for the price freeze are products most families can't do without.
Wegmans operates 48 stores in New York and another 29 in Pennsylvania, New Jersey, Virginia and Maryland. The company plans to open its first store in Massachusetts later this year.
For a list of the products that will not have their prices increased in 2011, click here.
Information from the Associated Press was used in this article.