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Inflation has cooled steadily over the past two years, despite seeing slight stagnation October and November. Prices for items such as petrol, used cars and energy have all declined as a result. However, food prices continue to outpace inflation, rising by 28% since 2019.
More than 85% of consumers say they feel frustrated with rising grocery prices, and more than a third say they have resorted to buying fewer items to save money, according to a 2024 survey by RR Donnelley.
However, experts say high food prices are here to stay.
“Once the price of food goes up, it tends to stay,” said Claudia Sahm, a chief economist at New Century Advisors. “Inflation can come back, because you don’t see big price increases. But outside of the general depression, we don’t tend to see prices falling across the board.”
Experts are also skeptical of whether political intervention can affect food prices.
“There’s really nothing government policymakers can do about it,” 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 all over the world and now, we just have to wait and see how things will turn out as we move forward.”
The uncertainties introduced by the current political climate also make it challenging to predict where food prices are headed.
“There’s no doubt that tariffs will make things massively more expensive, especially food,” said Rakeen Mabud, chief economist at Groundwork Collaborative, a progressive advocacy group. “Same thing with the mass deportations. We have workers in this country that really support our food system and when you start really damaging that workforce and sending them away, that damages our whole economy.”
Look at the video above to find out why food is still so expensive in the US.
