Economists say the increase in prices is not just because of inflation, which is slowing down.
Food prices are affected by global events, like the war in Ukraine, which impacts the costs of wheat and other things we buy.
They are also affected by natural disasters, like droughts that have killed crops, and the avian flu which has hit the supply of eggs and turkeys.Furthermore, the demand for food isn’t flexible. You can skimp on a new outfit or a vacation, but you can’t stop buying food.
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