Posted 2/2/2024, 11:32:14 AM
Grocery Bills Stay High, Hitting Family Budgets and Souring Views on Economy
- Grocery prices remain stubbornly high despite easing overall inflation, draining family budgets and posing a political challenge for Biden
- Key drivers include pandemic fallout, supply shocks like droughts and avian flu, robust consumer demand shifting to pricier items
- Lower-income families hit hardest; visiting food banks more, buying less fresh produce
- Shoppers toggling between stores more, only buying what's on sale to manage costs
- Persistently high grocery bills souring public sentiment, playing an outsized role in perceptions of inflation