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Food prices are falling in the US. Is that a good thing?

September 10, 2016

By Steven Porter, Staff : csmonitor – excerpt

Where you fall along the US food supply chain determines whether plummeting prices at the grocery store cause you to grin or grimace

A trip to the grocery store costs Americans less these days as US food prices continue to fall. But not everyone is happy about that fact.

While the average consumer catches a budgetary break when the price of eggs, milk, and meat plummet, the same news spells declining revenue for those along the food supply chain. Such losses ripple their way through the economy from grocery stores to farmers and ranchers, the manufacturing sector and beyond with the potential of burdening taxpayers and prompting job loss.

Food prices aren’t likely to stabilize any time soon. Economists expect the food-price trend, which began last year, to continue at least through December, thanks largely to excess supply and weak demand overseas because of a strong US dollar. In addition, American farmers are expected to harvest record-breaking amounts of corn and soybeans this fall, according to the US Department of Agriculture, pushing food prices down even further… (more)




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