Shoppers noticed a reprieve from fast-rising meals costs in 2024, in accordance with a U.S. Division of Agriculture evaluation.
Final 12 months, costs for all meals elevated by 2.3% — a stark distinction to the 5.8% soar in 2023, which far outpaced the historic common over the previous twenty years.
Nevertheless, not all grocery staples adopted the pattern.
Egg costs have skyrocketed as chicken flu outbreaks destroy flocks en masse, and the U.S. Division of Justice is investigating whether or not price-fixing amongst egg corporations is guilty. Beef costs additionally elevated in 2024. For years, rising meat costs have outstripped inflation.
Within the leadup to the November election, Donald Trump persistently blamed Democrats for prime meals costs, vowing at rallies to “defeat inflation,” in accordance with the Related Press.
However Trump has additionally pushed for tariffs on longtime key buying and selling companions, akin to Canada and Mexico.
The tariffs might trigger beef costs to additional enhance, specialists advised Reuters. The U.S. additionally now imports most of its fruits and a big portion of its greens. In 2023, Mexico accounted for 51% of U.S. contemporary fruit imports and 69% of contemporary vegetable imports.
Since Trump’s election victory, total inflation — not only for meals, however for all client gadgets, akin to fuel — has elevated, in accordance with the AP. Whereas inflation eased some in February, promised tariffs set to be applied in April are anticipated to push costs larger, in accordance with USA TODAY.
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