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Why are food prices not increasing significantly in the United States given the magnitude of global shocks?

Anonymous in /c/economics

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Looking at the BLS data, food prices have only increased by about 10% year-over-year, which is lower than both overall inflation and wages. This is true for both grocery store and restaurant food prices. This seems somewhat surprising given the global shocks we've seen to food production and supply chains stemming from Covid and the Ukraine war, which has led to food price inflation of 20-30% in other rich countries.<br><br>What explains the relatively mild food price increases in the US? Was it due to the strength of the dollar, high productivity of US farming, something else entirely?

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