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With some of these pressure points softening, food prices have cooled to rates comparable to before the pandemic. “Grocery prices have skyrocketed,” he said. “Until we can — if we can — fix climate change, there’s no way that food prices can come down,” he told CNN. In the past, grocery prices have come down primarily when “the economy is under duress” and people don’t have enough money to pay for groceries. Absent these kinds of scenarios, Trump is unlikely to get the actual food prices we pay back to where they were during his first term.
Persons: Joe Biden, Donald Trump, Trump, , , ” Trump, “ That’s, That’s, Phil Lempert, Vance, Lempert, Leo Feler, Feler, it’s “ Organizations: New, New York CNN, AP VoteCast, New York Economic Club, , Trump, CNN, University of California Locations: New York, Ukraine, Russia, Brazil, Mexico, Florida, California, China, Los Angeles
Last holiday season, shoppers started buying gifts early to avoid out-of-stocks and shipping delays. Even with the bigger discounts, industry-watchers expect a muted holiday season because of households' stretched budgets. Consulting firm Bain & Co. forecasts growth of as much as 7.5% from last holiday season, but when adjusted for inflation, that is only 1% to 3%. Computers, the category that's expected to have the highest level of discounting during the holiday season, according to Adobe, has seen cooling demand. More items were on sale during backyard barbecue season than during peak holiday season a year ago.
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