Grocery inflation caused by wages and raw goods prices – Fed study
Research comes as FTC launches inquiry into alleged price gouging by US retailers
Research by the Federal Reserve Bank of New York argues that the surge in US grocery inflation is mainly the result of rising wages for low-paid workers and higher prices of raw commodities, rather than price gouging by retailers.
“The consumer price index for groceries has risen more than the overall price index since the start of the pandemic, with a particularly large jump in 2022,” says the study. “The consumer price index for food at home has been on a wild ride.”
The report’s author, Thomas
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