Key facts
- Costco's tracked basket of 45 items rose 3% since July.
- Kirkland Signature motor oil increased 60% to $57.99 since June.
- Blueberry prices more than doubled from $3.99 to $8.99 between July and October.
- Aluminum foil prices increased 9% from $29.99 to $32.69 between July and October.
A personal price tracker for Costco items shows remarkable stability despite global economic turbulence, though recent increases in motor oil and protein prices are beginning to emerge. The author's basket of 45 items has risen 3% since July, primarily driven by motor oil price hikes. Overall, the basket saw a 2.3% increase from January to October 13, suggesting muted impacts of global events on everyday US household purchases.
Costco's business model, which aims to keep shelf prices close to wholesale, makes it a useful indicator of supply-cost pressures. While grocery and merchandise prices have remained steady, with small increases and discounts balancing out, specific items like motor oil, protein powder, and aluminum foil are showing signs of pressure. CEO Ron Vachris stated the company actively works with vendors to manage commodity price increases and maintain competitive pricing.
The author has been tracking prices for over a year, initially concerned about the impact of trade wars and later about the effects of Middle East conflict on grocery bills. So far, the impact on the tracked basket has been surprisingly muted. Specific price changes noted throughout the year include increases in coffee beans, a shift from organic to conventional ground beef, a jump in whey protein, and fluctuations in berry prices. More recently, refining bottlenecks and attacks on oil infrastructure have contributed to soaring diesel prices, directly impacting transportation costs and reflected in the significant rise of Kirkland Signature motor oil.