The Friday Checkout: Inflation has cooled, but food prices remain a hot topic

Inflation fell in July to its lowest annual level since March 2021, but consumers remain concerned about high prices – especially for food.

Last month, prices for food at home rose 1.1 percent year-on-year – less than Annual increase in headline inflation of 2.9%according to consumer price index data released Wednesday by the U.S. Bureau of Labor Statistics.

Meanwhile, Vice President Kamala Harris is reportedly expected unveil plans for a nationwide ban on price gouging to help reduce food prices and everyday costs as part of their election campaign promises.

In a letter to Kroger asking about pricing Using electronic shelf labels, Senators Elizabeth Warren and Robert P. Casey wrote last week: “High food prices are one of the biggest concerns of Americans worried about inflation. … In fact, Americans still struggle to feed themselves because giant corporations, facing little competition, can force their customers to overpay for essential food items while increasing their own profits.”

Increased Concerns about food prices The fact that consumers are gaining strength despite falling inflation is nothing new, but as the election campaign heats up, this discrepancy becomes even more pressing.

“Inflation has caused prices of many consumer goods – from gasoline to clothing – to rise… [but] “The pace of year-over-year inflation continues to slow, and food prices are actually a bright spot in the data,” said Leslie G. Sarasin, President and CEO of FMI – The Food Industry Association. said in a statement.

Sarasin said profit margins in food retail were slim and that the industry was “working tirelessly – despite fierce competition – to fight inflation and keep prices as low as possible to meet customers' needs.”

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Finding inspiration

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