Although inflation has slowed slightly, it has cooled steadily over the past two years October and November. Prices for commodities such as gasoline, used cars and energy all fell accordingly. However, food prices continue to outpace inflation, rising 28% since 2019.
A 2024 RR Donnelley survey showed that more than 85% of consumers said they were frustrated by rising grocery prices, and more than a third said they were buying fewer items to save money.
However, experts say high food prices will continue.
“Once food prices rise, they tend to keep rising,” said Claudia Sam, chief economist at New Century Consultants. “Inflation may come back down, so you won’t see big price increases. But beyond the general Outside of a depression, we tend not to see broad-based price declines.”
Experts are also skeptical that policy intervention will affect food prices.
“There’s not much government policymakers can do about it,” said Jason Miller, a professor of supply chain management at Michigan State University. “This is not a phenomenon unique to the United States. It’s being felt around the world, and now, we just have to wait and see. Let’s see how things unfold as we move forward.”
Uncertainty created by the current political climate also makes predicting where food prices will go challenging.
“There’s no question that tariffs will significantly raise the price of goods, especially food,” said Rakeen Mabud, chief economist at the progressive advocacy group Groundwork Collaborative. “The same goes for mass deportations. We have workers in this country who are truly propping up our food system when “When you start really hurting that workforce and driving them out, it hurts our entire economy.”
watch video Read above to find out why food remains so expensive in America.
