Are Food Prices Stabilizing? Media Strikes Different Tones
Summary from the AllSides News Team
Media coverage is highlighting different aspects of food inflation, supporting divergent narratives as American food prices stabilize.
The Details: January’s inflation data showed food prices rising 0.4% over the month, an acceleration from December’s 0.2% increase. Year-over-year, however, the food inflation rate was 2.6% in January, down slightly from a 2.7% annual rise in December.
How the Media Covered It: On Monday, a New York Times (Lean Left bias) analysis highlighted yearly food inflation data and quotes from companies bringing prices back to “normal” because of consumers “pushing back” — “good news for grocery shoppers, restaurant diners and the White House.” The same day, Fox Business (Lean Right bias) highlighted a Pennsylvania food supplier which had “been caught between higher input costs and consumers struggling to pay for inflationary prices,” but which also noticed consumers were “resistant to some of these higher prices.”
Why the Difference: Ahead of November’s elections, Republicans have tried to blame Democrats for recent years’ high inflation, and Democrats have pointed to improving economic figures as vindication. Inflation slowing down could help Democrats by making higher prices less salient in voters’ minds, incentivizing liberals and conservatives to frame inflation as either a problem of the past or a persistent threat.
Featured Coverage of this Story
From the Center
Grocery prices comparison: Inflation at its worst vs today
Annual inflation cooled to 3.1% last month, but that’s still hotter than expected, and rising food prices are part of the reason why.
From December to January, grocery prices accelerated 0.4%, up from 0.1% the month prior, according to the latest Consumer Price Index (CPI) released Tuesday.
Compared to a year ago food inflation has improved. Grocery prices are up 1.2% year-over-year, the slowest annual rate since June 2021 and well below the 13.5% surge in August 2022.
Data suggests Americans’ pain at the checkout varies based on their shopping cart. Prices for staples like eggs,...
From the Left
Will Food Prices Stop Rising Quickly? Many Companies Say Yes.
Few prices are as visible to Americans as the ones they encounter at the grocery store or drive-through window, which is why two years of rapid food inflation have been a major drag for U.S. households and the Biden administration.
Shoppers have only slowly regained confidence in the state of the economy as they pay more to fill up their carts, and President Biden has made a habit of shaming food companies — even filming a Super Bowl Sunday video criticizing snack producers for their “rip off” prices.
But now, the trend...
From the Right
PA food supplier warns Americans getting squeezed by inflation are becoming 'resistant' to higher prices
As the Keystone State saw inflation last year dig deeper into residents’ wallets than any other state, one Philly-based food supplier is warning that the fight may not be over yet.
"We're concentrating all the time on having enough product and the right product for our customers," TMK Produce’s buyer-sales lead Mike Watson told FOX Business’ Jeff Flock during an appearance on "Varney & Co." Monday. "And, we can see that they're resistant to some of these higher prices as they continue."
"The volume may tighten up a little bit....
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