Posted 4/10/2024, 8:24:00 PM
Grocery Prices Up 21% in 3 Years As Fed Worries Inflation Remains Too High
- Food inflation remains strong with grocery prices surging 21% in the last three years
- Fed officials worried in March that progress on bringing down inflation was stalling
- Officials uncertain about persistence of high inflation and not confident it's moving to 2% target
- Indicators pointed to strong economic momentum but disappointing inflation readings
- Market pricing now indicates Fed may only cut rates twice this year, starting in September
