Inflation has slowed down over the past two years, with prices for items such as gasoline, used cars, and energy decreasing. However, food prices have continued to rise, increasing by 28% since 2019. A recent survey found that over 85% of consumers are frustrated with rising grocery prices, and over a third have resorted to buying fewer items to save money.
Experts say that high food prices are likely to remain, citing that once food prices go up, they tend to stay up. While inflation may decrease, food prices are unlikely to fall significantly. Policy intervention is also seen as ineffective in addressing food prices, as global market forces are a major factor.
The current political climate is also introducing uncertainty into the market, with concerns over tariffs and mass deportations potentially driving up food prices further. According to experts, tariffs will increase costs, particularly for food, while mass deportations will harm the workforce that underpins the food system and the economy as a whole.
