Posted 3/7/2024, 9:38:27 PM
Food Prices Still High But Cooling; Inflation Falls Though Impact Uneven
- Food prices rose 20% between 2021-2023, fastest increase on record and likely 2024 election issue
- But some items like cookie prices are falling; food-at-home inflation now only 1.3%
- Inflation hit 9.1% in 2022 but has fallen sharply to 3.1% currently
- Republicans will emphasize enduring higher overall price level; Biden may counter with housing plans
- Lower-income families hit hardest by inflation due to greater budget share for necessities
