You may wish to review your Costco shopping list whether you’re preparing for the upcoming large Christmas gathering or are just attempting to feed your household.
Due to rising inflation rates that do not appear to be decreasing anytime soon, food in general has become nearly unaffordable. But customers don’t seem to be prepared to give Costco any leeway because of the membership cost (or greater expectations).
Even the most ardent supporters of Costco are criticizing the retailer for not maintaining competitive prices. Common criticisms aimed at some of the warehouse retailer’s most popular items are currently trending on social media, but this is not just happening at wholesale clubs.
Is Costco truly to blame?
With its wide range of customers, Costco continues to have a strong reputation despite inflation.
Large households adored Costco because they could buy enough bread and bacon for a week there and still score a deal, well before the Russia-Ukraine war, supply chain disruptions caused by the pandemic, and climate change all contributed to inflation.
Costco also has an inherent advantage thanks to its loss leaders. But does that apply to everything that Costco sells still?
To offset inflation, GOBankingRates looked more closely at Costco products.
Coffee
Look out if you enjoy how convenient and easy it is to grab your morning cup of coffee from Costco. Since 2019, there has been a consistent increase in the cost of ground coffee due to inflation. By 2022, the price had increased by 39%. In 2024, that pattern holds.
It might be time to move to whole-bean coffee and begin grinding your daily brew at home if that sounds like a wake-up call without caffeine. Consider purchasing in quantity, which Costco is well known for, or investigate their generic brand, Kirkland, for more affordable coffee.
Olive Oil
Olive oil is a cooking essential found in almost every household. Costco’s loyal consumers have long depended on the megastore to provide Kirkland Signature organic extra virgin olive oil at a competitive price. However, the price of olive oil has been rising recently and may continue to do so.
Image – The Daily Dot
Eat This, Not That (ETNT) reports that a Costco patron discovered in their neighborhood warehouse a “two-count pack of 3-liter Kirkland Signature Refined Olive Oil bottles selling for $50.99” lately. Furthermore, ETNT revealed that between March 2023 and this year, the price of olive oil at a Brooklyn Costco increased from $16.99 to $24.99.
Petroleum
Although there are many benefits to becoming a member of Costco, one that members particularly like talking about is the ability to buy gas for less money than at typical filling stations. If inflation stays high, that might not be the case.
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The Street claims that to remain competitive in the market, Costco has subtly increased petrol prices.
“Our value proposition is increased — an increased number of cents per gallon than we’ve ever seen,” Costco CFO Richard Galanti stated in early 2024. “We do our competitive price shops on gas, which we do weekly at every gas station we operate with neighboring competitive gas stations.”
Meat
Carnivores, maybe it’s time to find your favorite meat cuts somewhere else. The cost of meat was known to be fixed by inflation, but Costco was renowned for offering amazing discounts on beef, chicken, seafood, and hog.
It is very expensive to eat meat; the price of beef has increased by as much as 11% by 2023, continuing a trend that began three years ago. It would be wise to try some vegetarian meals the next time you purchase at Costco until inflation stops.
Tumblers
While tumblers—more especially, the Yeti brand—that are sold at Costco are great for preserving beverages at the right temperature and reducing the amount of disposable cups that end up in the trash, their cost has recently increased.
For the typical Costco customer, a reusable beverage container that was formerly reasonably priced may now be out of reach.
Should you decide to purchase tumblers from Costco, attempt to look for promotions such as the ThermoFlask 32-ounce Insulated Standard Straw Tumblers, which retail for approximately $33 for a pair.
