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.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02The situation has eased over the past two years, though food prices remain a stubborn outlier,
00:07rising 28 percent since 2019. A 2024 survey found 85 percent of consumers are frustrated
00:13with high grocery costs, with over a third reducing purchases to save money.
00:17Experts suggest high food prices are likely to persist and say food prices rarely decline once
00:23they rise. Government policymakers have limited influence on high food prices,
00:27which are a global issue requiring patience to assess further developments.
00:32Tariffs and workforce distributions, such as massive deportations,
00:36could significantly increase food prices and harm the overall economy.