High grocery prices got droves of Americans to vote for Trump but they shouldn’t expect to pay less over the next four years
4 months ago

High grocery prices got droves of Americans to vote for Trump but they shouldn’t expect to pay less over the next four years

CNN  

New York CNN — Americans are shelling out 22% more for groceries compared to when President Joe Biden took office in January 2021, according to October Consumer Price Index inflation data. “That’s going to bring down prices of everything.” Weekly US crude oil production just hit a new record of 13.5 million barrels per day, according to federal data dating back to 1983. But even if oil production were to increase even more — although it remains to be seen whether that is even feasible — it likely wouldn’t affect food prices much, said Phil Lempert, a grocery industry analyst and editor of SuperMarketGuru. “Until we can — if we can — fix climate change, there’s no way that food prices can come down,” he told CNN. Mass deportations, tariffs risk pushing food prices up If Trump fulfills his campaign promises to deport millions of people who entered the country illegally and slap sweeping tariffs on everything the US imports, Americans could see their grocery bills explode.

History of this topic

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3 months ago
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3 months, 1 week ago
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'U.S. jobs are at risk': Economic columnist sounds alarm on Trump's 'disastrous' plan
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6 months, 1 week ago
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1 year ago
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1 year, 1 month ago

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