High food prices are predicted to persist, according to experts.

High food prices are predicted to persist, according to experts.
High food prices are predicted to persist, according to experts.

Although inflation has decreased over the past two years, except for food prices, which have increased by 28% since 2019.

According to a 2024 survey by RR Donnelley, over 85% of consumers feel frustrated with rising grocery prices and over a third have resorted to buying fewer items to save money.

However, experts say high food prices are here to stay.

"According to Claudia Sahm, a chief economist at New Century Advisors, when food prices increase, they typically remain high. Although inflation may decrease, prices do not usually decrease significantly across the board except in the case of a widespread depression."

Experts are also skeptical of whether policy intervention can affect food prices.

"According to Jason Miller, a professor of supply chain management at Michigan State University, government policymakers have limited options in addressing this issue, as it is not exclusive to the United States and has been experienced globally. The situation requires patience and waiting to see how it unfolds in the future."

The political climate's uncertainties make it difficult to predict where food prices will go.

"Rakeen Mabud, chief economist at Groundwork Collaborative, stated that tariffs will significantly increase costs, particularly for food, and mass deportations will harm the economy by disrupting the workforce that supports the food system."

Discover why food is expensive in the US by watching the video.

by Juhohn Lee

Business News