The U.S. monthly budget deficit dropped to $88 billion in October. That is a 47% decrease from more than a year ago. The number may give people hope for the country’s economy, but one thing is noticed if you go through the report. America needs food, and it needs to be affordable.
The report showed food prices are starting to go down. Food prices grew by 12.4%, down from 13% in September. Is this decrease noticeable at the grocery store checkout? Prices for certain items rose drastically. Egg prices jumped to 43%, and butter rose by 26.7%. Things like lettuce, bread, milk, and flour have also seen a significant price increase.
According to MarketWatch, the rise in food prices in the past year is causing Americans to scramble for ways to cut costs while still feeding their families. Everyday eating habits include buying less meat and increased searches for discounts and deals. The search for deals consists of the marked-down aisle containing nearly expired foods.
The aftermath of the pandemic, supply chain disruptions like the one caused by Russia and Ukraine’s war, climate issues like extreme heat and hurricanes, and labor issues all contributed to this growing problem. The future of low-income families’ dinners depends on what happens after the last mid-term ballot is finally counted. According to MarketWatch, in 2023, lawmakers will have to negotiate nutrition and food subsidies. The current farm bill covers agricultural production and Snap benefits which help lower-income families afford food. The bill expires in September 2023.
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