Inflation has slowed steadily over the past two years, despite slight stagnation in October And November. Prices of products such as gasoline, used cars and energy have all fallen as a result. However, food prices continue to outpace inflation, increasing by 28% since 2019.
More than 85% of consumers say they feel frustrated by rising food prices, and more than a third say they have resorted to fewer items to save money, according to a 2024 survey by RR Donnelley .
However, experts say high food prices are here to stay.
“Once food prices rise, they tend to stay high,” said Claudia Sahm, chief economist at New Century Advisors. “Inflation may come back down, so we don’t see big price increases. But outside of a widespread depression, we don’t tend to see prices falling across the board.”
Experts are also skeptical that policy intervention could affect food prices.
“There’s really nothing government policymakers can 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. It has been felt all over the world and for now we just have to wait and see how things develop as we move forward.”
The uncertainties introduced by the current political climate also make it difficult to predict changes in food prices.
“There is no doubt that tariffs will make things more expensive, especially food,” said Rakeen Mabud, chief economist at Groundwork Collaborative, a progressive advocacy group. “Same thing with mass deportations. We have workers in this country that really support our food system and when you start really harming that workforce and sending them away, it hurts our entire economy.”
Look at it video above to find out why food is still so expensive in the United States.
