The numbers indicate that buying a pound of beans is 156 percent more expensive than two decades ago although since 2021 that progression in prices increased more. For example, in January 2021 a pound of beans cost 43 cents and by March 2023 average price was $1.11.
According to market experts, the price of basic grains increased in line with the rising cost of living and wage adjustments.
MAG data show that in January 2021 a pound of corn cost on average 15 cents and already in March 2023 it reached 35 cents, 20 more, representing a 139.4 percent increase.
Other grains, such as sorghum, went from 12 cents in 2001 to 40 cents in March of this year, a 238 percent increase in two decades.
Despite the increase in salaries, economists estimate that in recent years the cost of the basic food basket has also risen, which has limited the possibilities for families to afford other necessities, such as transportation, water, recreation, clothing and education.