Trader Joe's just increased the price of a banana for the first time in more than 20 years

Food prices have increased, including a popular 19-cent banana at Trader Joe’s. The grocery store recently raised the price to 23 cents, a more than 20% increase. Trader Joe’s stated that they only adjust prices when their costs change and have kept the banana price at 19 cents for over two decades. Food inflation, though not rising rapidly overall, is still impacting Americans in grocery stores. Bananas have remained affordable, and demand in the US has been driven by their affordability. Grocery store competition and bananas being priced as a loss leader have kept retail prices mostly unchanged. Climate change and rising temperatures could contribute to higher banana prices in the future. Trader Joe’s has lowered prices for other produce items. The decision to sell individual bananas for 19 cents originated from a customer’s feedback.