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Experts says food prices aren't coming down [1]
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Date: 2025-01-07
So, now, we get this:
Experts say high food prices are here to stay. Here's why:
Inflation has steadily cooled over the past two years, despite seeing a slight stall in October and November. Prices for items such as gasoline, used cars and energy have all declined accordingly. However, food prices continue to outpace inflation, increasing by 28% since 2019.
More than 85% of consumers report feeling frustrated with rising grocery prices,
Once food price goes up, it tends to stay up," said Claudia Sahm, a chief economist at New Century Advisors. "The inflation may come back down, so you don't see the big price increases. But outside of widespread depression, we don't tend to see prices falling across the board."
Experts are also skeptical of whether policy intervention can affect food prices.
"There's really nothing government policymakers could do about this," said Jason Miller, a professor of supply chain management at Michigan State University. "This is not something unique to the United States. This has been felt around the world and right now, we just have to wait and see how things will play out as we move forward." There's no doubt that tariffs will massively make things more expensive, especially food," said Rakeen Mabud, chief economist at Groundwork Collaborative
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