After more than a year into the COVID-19 pandemic, food prices are expected to increase even more, according to experts.
A customer wearing gloves shops at a Stew Leonard's supermarket in Paramus, N.J., May 12, 2020.are expected to increase even more, according to experts., the Economic Research Service for the U.S. Department of Agriculture predicted the cost of food from grocery stores will rise 1 to 2% this year.
Patrick Penfield, Professor of Practice - Supply Chain Management at the Whitman School of Management for Syracuse University told"Good Morning America" that means prices"will continue to rise over the next several months, probably right at that 2 to 3% range, until May." "Demand still continues to rise because many people are still eating at home, bad weather -- winter storms -- is also causing people to eat in," he added."Finally food producers and supermarkets are still not offering the coupons and promotions that we have seen in the past."
Brenna Ellison, an associate professor at the Department of Agricultural and Consumer Economics, University of Illinois Urbana‐Champaign,"The decrease in FAFH [food-away-from-home] spending was driven by significant decreases in spending on eating out in restaurants. We observed increases in spending for carry-out within FAFH, but not enough to offset the decreases in eating out," Ellison said in a release about the findings.
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