And rightfully so: Food priceshave risen nearly 30%in five years.
But here are some policies that can make it a little betteror whole lot worse.
Again, wethe US consumerspay for it.
A 2021 study by theUS-China Business Councilfound that those tariffs cost the US 245,000 jobs.
Did the majority of people vote to restore abortion rights?
By the end of 2025, US households will have lost an estimated $6,400 in real income.
She adds, Because they are making us buy things from a more expensive source.
However, while Biden took a targeted approach, Trump wants to double down and tariff itall.
White women who voted for Harris are leaning into accessories to copebut not everyones sold.
The first is inflation, and most certainly, grocery price inflation has outsized other sectors of the economy.
But, he adds, for the most part, economists agree thatinflation has cooled off.
But while inflation may be down, that doesnt mean prices will come down with it.
Prices dont go back down to the previous level, Dr. Scheitrum says.
They just stop increasing.
So were at a new normal with prices that were unfamiliar with.
That is unfair, Dr. Scheitrum says.
Dr. Edelberg says there are other things the Biden administration was doing that Trump could continue if he chooses.
That is mostly about enforcing the laws that are already on the books.
We can enforce antitrust.
Fostering economic growth is key to helping wages keep pace with rising costs.
As wages rise, consumers will have more purchasing power, easing the burden of higher food prices.
So far Trump has promised to increase fossil fuel production and threatened to take backunspent climate funding.
Expanding these types of programs will provide critical assistance to those most affected by higher prices.
“Finally, fostering economic growth is key to helping wages keep pace with rising costs.
The president elect also hasexpressed his distastefor paying people overtime, stating, I wouldnt pay.
That would mean we would have deflation, she said.
The price level is going to be at where it is now.
Its not going to come down.
