Inflation has cooled steadily over the past two years, although it stalled slightly in October and November. Accordingly, prices for items such as gasoline, used cars and energy have fallen. However, food prices continue to rise faster than inflation and have increased by 28% since 2019.
According to a 2024 RR Donnelley survey, more than 85% of consumers say they are frustrated by rising grocery prices and over a third say they have resorted to buying fewer items to save money.
However, experts believe that high food prices will continue.
“Once food prices go up, they tend to stay put,” said Claudia Sahm, chief economist at New Century Advisors. “Inflation could fall again, so you don’t see any big price increases. But barring widespread depression, we are not inclined to see prices falling across the board.”
Experts are also skeptical about whether political interventions can have an impact on 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 isn’t just something in the United States. This is being felt all over the world and for now we just have to wait and see how things develop as we move forward.”
The uncertainties brought about by the current political climate also make it difficult to predict where food prices will go.
“There is no doubt that tariffs will make things massively more expensive, especially food,” said Rakeen Mabud, chief economist at Groundwork Collaborative, a progressive advocacy group. “The same applies to mass deportations. We have workers in this country who really support our food system, and when you start to really hurt those workers and send them away, it hurts our entire economy.”
Watch the video above to find out why groceries are still so expensive in the United States.