Grain Prices Drop but Food Bills Still Climbing, Squeezing Consumer Budgets
-
Grain prices have hit a near 3-year low, but grocery bills continue to rise, challenging consumer budgets.
-
Drop in grain prices follows volatile period fueled by pandemic demand shifts, droughts impacting supply, and Russia-Ukraine war.
-
Fluctuations in grain market influence wider food production costs. Price changes not yet reaching consumers.
-
Expert warns grain prices could tick back up due to further Russia disruptions and climate change impacts.
-
Food production costs expected to rise over 4% this year due to climate challenges and labor cost increases.