Good News in Food: Grocery inflation slowing, per USDA; Survey says, most Americans prefer U.S. sugar
We have some good news to share in the world of consumer food! Check out the article below for a couple of exciting headlines from this week.
The USDA recently reported exciting info when it comes to grocery store inflation. Plus, a recent survey by the American Sugar Alliance showed strong domestic support for sugar made right here in the USA.
USDA: GROCERY STORE INFLATION FINALLY SLOWING
Turning to the topic of food prices & inflation, there is a glimmer of hope for consumers when it comes to weekly grocery store bills.
According to economists with the U.S. Dept. of Agriculture (USDA), while food prices are expected to remain higher in 2024, the rampant inflation rates experienced in 2022 and 2023 are anticipated to return to more “normal” levels in the upcoming fiscal year.
“What we have seen this whole year is very gradual disinflation, not price decreases but a slowing of price increases, and we expect them also to continue into the future as well,” said USDA Economist Matt MacLachlan.
For the upcoming year, MacLachlan forecastED a modest 1.6-percent increase in grocery store food prices. Comparatively, the average yearly food inflation rate over the last two decades stands at two percent.
MOST AMERICANS CRAVE SUGAR MADE IN THE U.S.A.
In a recent survey conducted by the American Sugar Alliance, it is now clear that the majority of Americans share a common sentiment: they want their food to be “American-made.”
This opinion resonated across political beliefs and geographic regions, with nearly two-thirds of respondents expressing the desire for the United States to rely less on foreign suppliers for its food supply.
Specifically addressing sugar, the survey revealed a striking preference for domestically produced sugar over imports, with a resounding eight times as many Americans favoring sugar made in the USA. Further, a significant 71 percent of participants reported their support for U.S. sugar policies that would ensure affordable domestic sugar products.