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Rising Food Prices Have Consumers Improvising
Newser • • business
Key Points:
- Americans are adopting cost-saving habits like couponing, comparison shopping, and cutting back on favorite foods due to the largest grocery price increase in 50 years.
- Grocery prices in US cities have risen 33% since early 2019, compared to a 6.4% increase in the previous 7.5 years.
- Factors driving inflation include pandemic-related supply chain disruptions, extreme weather events, tariffs on imports, and the Russia-Ukraine war affecting oil and fertilizer supplies.
- The recent conflict in the Middle East is further accelerating food price inflation, making grocery affordability a key issue in the upcoming midterm elections.
- Consumers are actively seeking deals and changing shopping habits to manage rising food costs, according to market researchers and firsthand reports.
