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Experts Predict High Food Prices Are Unlikely to Decrease As Grocery Costs Frustrate Shoppers

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Experts Predict High Food Prices Are Unlikely to Decrease As Grocery Costs Frustrate Shoppers

B
Benzinga

106 Views • Jan 06, 2025

Description

Inflation has eased over the past two years, though food prices remain a stubborn outlier, rising 28% since 2019. A 2024 survey found over 85% of consumers are frustrated with high grocery costs, with over a third reducing purchases to save money. Experts suggest high food prices are likely to persist and say they rarely decline once they rise. Government policymakers have limited influence on high food prices, a global issue requiring patience to assess future developments. Tariffs and workforce disruptions, such as mass deportations, could significantly increase food prices and harm the economy.