Consumers say political parties can fix high food prices—but only if their side wins
Just as presidents get credit for steering the U.S. economy, consumers in a University of Illinois survey said the two major political parties can help lower grocery prices — but only if their side is in charge. A minority of respondents in the poll released on Monday said the issue was beyond solution by politicians.
Grocery inflation expected to be at its lowest since 2019
Grocery prices will rise a modest 1.2 percent this year and 1.1 percent in 2025, the smallest increases since 2019 but modestly higher than previously forecast, said USDA economists. Beef prices were expected to rise 5.6 percent this year, faster than its usual annual increase, but slow down in the new year.
Food inflation below 3 percent for third month in a row
The food price inflation rate edged lower, to 2.6 percent, in January, the third month in a row that food inflation was below 3 percent, said the Consumer Price Index report on Tuesday. The overall U.S. inflation rate was higher than expected at 3.1 percent.