[Cabrera:] Chances are you are spending more at the grocery store, even though you're not buying more than usual. The cost of eggs, up double digits. Pork, chicken, fish, even hot dogs are going to cost you more, too. Overall, the prices for groceries has increased by 2.6 percent in April. It doesn't sound like much, but that's the biggest increase in one month since the 1970s. Back with us now is CNN's Chief Business Correspondent Christine Romans. So, Christine, why is this happening and why are the cost of some goods increasing more than others?
[Christine Romans, Cnn Chief Business Correspondent:] It's classic supply and demand. I mean, we're all out there going to the grocery store to feed our kids at home more. I mean, I know my grocery bills are up by volume and by price. Quite frankly, we're buying a lot of stuff at the same time that some of these supply chains have been disrupted. And so, that's more demand, less supply, and so you see these prices go up. When you look at eggs, in particular. I mean, you buy a carton of eggs. You notice a difference. That $2.00 carton of eggs in March is now $2.32. It's real money and it's really noticeable. You know, 2.6 percent is the increase in the price of groceries. That doesn't sound like much from March to April. But these are numbers that I have been watching for years, and they usually move by a tiny bit, like one or two-tenths of a percent point. Not this much. So, it's something that people are noticing and it means your grocery bills are definitely higher. For meat, for cereal, for bread, for just about everything.
[Cabrera:] Yes, for produce, as we saw in that last graphic. How long will these increased prices last? What are, maybe, some indicators you're looking at for when this will turn around?
[Romans:] Well, the CEO of Tyson Foods says that he is going to start they're going to start lowering, giving you discounts on some of these meat prices for grocery stores and restaurants and the like, because it was really getting noticeable. And the risk is, of course, that people pull back and start eating less meat. So, it behooves the big meat companies to try to lower those prices if they can. They're going work out some of these supply chain disruptions. But some of this is also, kind of, our interesting pandemic behavior. You know, there's a little bit of panic buying of things going on. It's so fascinating to me that people are buying things, you know, for baking. You know, how many people do you know who have, you know, sourdough starters and are trying to do some of these other things at home? So, it's interesting, some of that baby food, for example, diapers, these are other things that people are trying to stockpile a little bit. So, you can get some supply disruptions in those items as well. But I think it will smooth out over time. I mean, remember toilet paper was the leading edge of this, and now that's not so much of a problem. We're moving into other things that seem to be in short supply. Some of the Krogers and some of the other chains had limited how much meat you could buy, in particular, because that was such a big deal there. But, now, that seems to be smoothing out a little bit.
[Cabrera:] Yes, I've noticed that too, at even our local Stop and Shop, that limit put in place or at least a gentle reminder ask of people who are buying groceries. Christine Romans, it always good to have you here. Thank you.
[Romans:] All right.
[Cabrera:] Now, keep in mind, grocery prices are going up as a record number of Americans lose their jobs, meaning people really need help. And joining us now is Michelin star and multiple James Beard award- winning chef, Daniel Boulud. Chef, I am so glad to talk to you. And thank you for all the hard work you're putting into helping to feed people right now. I want to talk about your project, Food1st, in just a moment, which, of course, is providing meals to first responders, elderly people, and others in need. But let me ask you, real quick, about this spike in food prices and the impact on the restaurant industry. We have heard from other restaurant owners that the spike in wholesale meat, specifically, is making it difficult for them to reopen their restaurants. No owner wants to raise menu prices right now, right? How big of a concern is this?
[Daniel Boulud, Chef & Partner, Food1st Foundation:] Of course not. Hello, good afternoon, Ana. It's a big concern for us. I mean, everything starts with food in a restaurant. And of course, we have been, right now, making a lot of meals since we created Food1st Foundation. The CEO of S.L. Green has offered more than 50,000 meals in New York, and those meals, we make it at a very reasonable cost, but delicious. But you know, in the restaurant, when we're going to reopen, we hope that the country will also totally reopen and farmers will go back to produce and be able we hope then the price will start to level out a little bit better than right now the distribution is a little bit uneven.
[Cabrera:] Right. In terms of reopening, you're obviously a leader in the industry and you are part of the special counsel of business leaders advising the White House on reopening the economy. I know you've spoken personally with President Trump. What advice did you give the president from the restaurant industry? And do you feel his eagerness to get businesses open again is at the right level?
[Boulud:] We don't we didn't want to speak just to the president. We also spoke to the Congress on both sides and made sure that they both got the message as well. Congress and the White House about, of course, the PPP, which was not at all practical for any of the restaurants, and for businesses in general. And we are expecting some positive response with the PPP in order for business to be helped. And also we were also concerned about the small business, the small restauranteur, the small restaurants all over the country who didn't get their share, also, of the PPP, and that, I think, came into another round after. But the biggest concern is, of course, the economy. How and how can we reopen? And the safest way, the best way. Customer have trust with us, and we trust our customer, that they want to come back. We want to bring our staff back, of course. We want to bring our customer of our farmers back in business. But we first need the guidelines who is going to be visible for us to work with, practical, and where the business can sustain itself and try to not raise the price. And we are starting a I am starting by doing food to go and many of my colleagues all over the country are started that with their restaurants, and I think it's a good business. It will stay there. So we have Daniel Boulud Kitchen. We will be starting in a week in New York first. And we are looking at doing other opportunities of food to go. But we believe, also, restaurants, brick-and-mortar place, has to also reopen. And we hope that could be New York is the roughest city to open, I will say.
[Cabrera:] Well, because of the density
[Boulud:] Let me I don't want to run out of time. Forgive me. I don't mean to interrupt you. I just want to make sure we talk about Food1st because what you're doing through this nonprofit that you and others started last month and is really incredible, the way you are making a difference in communities all over the place. Your initial goal, I know, was to provide up to 200,000 meals a day for first responders and other needy New Yorkers. Yes. And we did that.
[Cabrera:] How exactly is it working?
[Boulud:] It is working because it was the initiative also of my father at a new business we are opening in New York. He wanted to see the foundation in order to be able to give meal to New Yorkers in need. And we, right away, I reopened two of my kitchens to do that, and we started to make meal for first responders but also for city Meals on Wheel in New York and to also Barry Mission, who have put shelters as well, and many other areas in New York City and the five boroughs where foods were so much needed. And the generosity of Mark Holiday and, of course, Food1st Foundation still keep raising money because we need to bring more meals to people. And the city of New York was also very interested by our fast and dedicated this foundation was to support other foundation in New York City, such as World Central Kitchen or, like I said, city Meals on Wheel as well.
[Cabrera:] OK. Yes. Chef Daniel, I appreciate the time.
[Boulud:] So about 4,000 or 5,000 meals a week.
[Cabrera:] So 4,000 or 5,000 meals a week. That's wonderful to hear. Again, Chef, thank you for taking the time to talk with us. And I'd like to stay in touch to find out how things go as the restaurant businesses begin to reopen more and more around the country. Thanks again.
[Boulud:] Thanks, Ana.
[Cabrera:] Did you know we would be in the seventh week of baseball right now if this outbreak couldn't happen? We'll have a look at what sporting events could look like this summer, next.