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Despite the gloom about grocery costs, food price increases have generally been cooling for months. A central issue has plagued the Biden administration for most of its term: the steep rise in grocery prices. Despite the gloom about grocery costs, food price increases have generally been cooling for months. Image Several economists said they expected to see grocery inflation remain around current rates in the coming months. Grocery inflation remains a major political issueHigh food costs continue to pose a political challenge for the Biden administration.

Persons: Biden, Donald J, Trump, ”, David Ortega, Ortega, “ We’re, Mr, Jessica Attie, Omair Sharif, Sharif, Kamala Harris, Christopher B, Barrett, Jerlyn, “, Heisz Organizations: Bloomberg, Federal Reserve, Investors, Republican, White, Workers, Michigan State University, The New York Times, Agriculture Department, KPMG, Democratic, PepsiCo, Cornell University Locations: Ukraine, Platteville, Wis

☆ Big Consumer Companies Keep Raising Prices, Complicating Fed’s Job
▼ + stars: | 2023-07-26 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com time to read: +1 min

Coca-Cola, PepsiCo and Unilever have each reported raising prices significantly in the second quarter, from about 8 percent at Unilever to 15 percent at Pepsi. The companies raised their full-year forecasts for various measures, pushing up their share prices. The Fed’s main tool to tackle inflation is raising interest rates, which reduces demand for goods and services. But food prices can be particularly sticky: Unlike other goods, consumers cannot stop buying food, and food prices are particularly sensitive to external factors like supply shocks, ingredient prices and geopolitics. “The Fed really has no ability to resolve those issues,” said David Ortega, a food economist at Michigan State University.

Persons: ”, David Ortega Organizations: Federal Reserve, Cola, PepsiCo, Unilever, Pepsi, Michigan State University Locations: Ukraine

☆ The hidden price of eggs: How high costs may trickle into other foods
▼ + stars: | 2023-02-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

The average price for all types of eggs ballooned 60% in 2022, according to the consumer price index. Higher egg prices are largely the result of a deadly outbreak of bird flu in the U.S., economists said. Since February 2022, bird flu killed more than 44 million hens in commercial table-egg-laying flocks, according to the U.S. Department of Agriculture. But there isn't a one-to-one relationship between higher egg prices — whether shelled or in another form — and the cost of other foods. In short: Eggs are one of many factors in inflated consumer food prices.

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