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Inflation has cooled steadily over the past two years, despite experiencing slight stagnation in October and November. Consequently, prices for items such as gasoline, used cars, and energy have decreased. However, food prices continue to outpace inflation and have increased by 28% since 2019.
According to a 2024 survey by RR Donnelley, more than 85% of consumers say they are frustrated by rising food prices and more than a third say they have resorted to buying fewer items to save money.
However, experts say high food prices are here to stay.
“Once food prices go up, they tend to stay high,” said Claudia Sahm, chief economist at New Century Advisors. “Inflation may go back down, so you don’t see big price increases. But outside of a general depression, we don’t tend to see prices fall across the board.”
Experts are also skeptical about whether policy 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 around the world and right 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 where food prices are headed.
“There’s no question that tariffs will make things enormously more expensive, especially food,” said Rakeen Mabud, chief economist at Groundwork Collaborative, a progressive advocacy group. “The same goes for mass deportations. We have workers in this country that really prop up our food system and when you start really hurting that workforce and laying them off, that hurts our entire economy.”
look at the video above to find out why food is still so expensive in the United States.