The ‘disconnect’ consumers have towards food inflation

Date:

Food inflation is showing signs of moderating, however Americans remained crunched at the grocery stores. Why is that? Former USDA Economist and Cal Poly Professor of Agribusiness Richard Volpe joins Wealth! to break down this situation.

Volpe points out that while food price inflation has decreased, “nominal food prices have not come down.” He identifies this as the primary source of confusion among consumers. Although overall inflation in the economy is declining, Volpe explains, “It would really be counter to the norm in the US and most developed economies to see actual nominal deflation, and that, I think, is the number one source of confusion, disconnect, and lingering frustration among many.”

He does note, however, that there is some inflation relief in certain categories. These include fruits and vegetables, breads and cereals, baked goods, and some protein sources.

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Angel Smith

Share post:

Popular

More like this
Related

Ralls tips ex-Cardiff captain Morrison as ‘great’ future coach

Joe Ralls believes his former Cardiff City captain Sean...

Derby winner Lewis honoured at Welsh racing awards

Geoff Lewis, the only Welsh jockey to ride a...

Week 12 preview: Mike Evans returns, Richardson faces tough test and Harbaugh Bowl bonanza

This embedded content is not available in your region.Subscribe...

Your daily horoscope: November 22, 2024

Open this photo in gallery:HOROSCOPES IF TODAY IS YOUR...