Fortune· 2h ago· 1 min read
Economics has a term for what U.S. grocery prices have done in recent years: rockets and feathers.
Rockets, because the cost of food eaten at home zoomed up in the aftermath of the pandemic. Feathers, because once prices rise, they’re slow to come down.
That’s been frustrating for Americans hit with the sharpest increase in grocery prices in 50 years. While food price inflation peaked in 2022, when prices jumped 11.4%, prices have not reversed course. An acceleration in flation after the U.S. and Israel attacked Iran has prolonged the aggravation.
“I think the public is coming to grips with, ‘Well, I’m hearing inflation has slowed, but things aren’t getting any cheaper.’ It has to be deflation for prices to go down, and that’s very rare,” said Matt Hamory, who leads the global grocery practice at the consulting company AlixPartners.
Prices for food at home are expected to rise 2.7%…
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