NYT Joins Biden in Shifting Blame for Food Costs

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NYT Joins Biden in Shifting Blame for Food Costs

Food prices have soared in recent years thanks to inflation, straining American households and prompting criticism and lack of self-awareness from the Biden administration.

The New York Times is on board for the administration’s new narrative to blame food companies for higher prices. In a recent article, they reported that a shift is on the horizon as grocery and restaurant inflation appear to be slowing down. Just in time for the election! Companies are reporting smaller price increases due to various factors, including consumer resistance and stabilized input costs like packaging and labor. They say that while prices may not decrease, the rate of increase is expected to lessen. Some companies are adopting technology and productivity improvements to offset rising costs without raising prices. Overall, experts anticipate a moderation in food inflation in 2024, providing some relief to consumers, at least as far as rate of increase.

The Times concludes:

Taken together, the signs suggest that grocery and restaurant inflation is likely to prove more moderate in 2024 than it was in the previous three years.

Many food-related input costs are either coming down or jumping less aggressively. Wage gains remain elevated in food service, but they are cooling back toward normal. And consumers are beginning to push back on the kind of big price increases that firms were using to pad their profit margins.

You’ll excuse me if I don’t celebrate “less aggressive” rising food costs.

RELATED:
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PA food supplier warns Americans getting squeezed by inflation are becoming 'resistant' to higher prices (Fox Business)

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