"Consumers' Creative Tactics to Combat Rising Food Costs"

1 min read
Source: Fox Business
"Consumers' Creative Tactics to Combat Rising Food Costs"
Photo: Fox Business
TL;DR

Despite falling inflation, grocery prices in the US have surged over 21% since the start of 2021, outpacing the overall 18% pace of inflation. Experts predict that relief for consumers is unlikely to arrive soon, with low-income Americans being disproportionately affected. Rising food prices are attributed to ongoing supply chain issues, a small cattle inventory, an Avian flu outbreak, a worldwide grain deficit, and increased wages for food service workers. Federal Reserve Chair Jerome Powell has indicated that high prices could persist unless there is a severe recession, with prices remaining substantially higher than before the pandemic.

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