A little relief at the grocery store. That’s coming up on This Land of Ours.
After two years of climbing grocery bills, things are starting to cool off.
“In April grocery inflation on a three-month annualized basis, which is just saying if the three months we’re looking at stayed that way all year, inflation was actually negative,” Joelle Gamble, Deputy Director of the National Economic Council said. And, she said there may be more relief to come. “We do expect grocery inflation to continue to improve along overall inflation, headline inflation.”
However, she said it is likely that for the rest of the year, grocery inflation will remain elevated compared to where it was before the pandemic. Still, Gamble points out that grocery inflation is a sample of how things are overall.
“Grocery inflation is important because it’s 1/10 of the overall if that were good that we used to measure inflation for consumers,” she said. “And so when grocery inflation starts to cool, that means overall inflation could be impacted in a positive way.”
She said the decline in agricultural input prices is helping to bring food costs down.
Listen to Sabrina Halvorson’s This Land Of Ours program here.
National Correspondent / AgNet Media, Inc.
Sabrina Halvorson is an award-winning journalist, broadcaster, and public speaker who specializes in agriculture. She primarily reports on legislative issues and hosts The AgNet Weekly podcast. Sabrina is a native of California’s agriculture-rich Central Valley.