Food price inflation and the 2024 presidential election
Key Points The 2024 presidential candidates from both major parties have prioritized food price inflation as a key campaign issue, though their explanations about the causes of higher food prices seem to overlook the lasting effects of the COVID-19 pandemic on food supply chains and global inflatio...
| Main Authors: | , |
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| Format: | Informe técnico |
| Language: | Inglés |
| Published: |
American Enterprise Institute
2024
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| Subjects: | |
| Online Access: | https://hdl.handle.net/10568/155443 |
| _version_ | 1855530929255088128 |
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| author | Smith, Vincent H. Glauber, Joseph W. |
| author_browse | Glauber, Joseph W. Smith, Vincent H. |
| author_facet | Smith, Vincent H. Glauber, Joseph W. |
| author_sort | Smith, Vincent H. |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | Key Points
The 2024 presidential candidates from both major parties have prioritized food price inflation as a key campaign issue, though their explanations about the causes of higher food prices seem to overlook the lasting effects of the COVID-19 pandemic on food supply chains and global inflationary pressures. During the pandemic, food prices for consumption at home increased sharply but have since moderated, increasing at only about 1 percent annually since 2022 and more slowly than the general inflation rate. Prices for food away from home have followed a similar path but are now increasing at about 3 percent a year. The share of income spent on food increased modestly during the pandemic for all households, but by much less than some commenters suggest, even for low-income households, which only modestly increased the share of their income spent on food by 1.3 percentage points. |
| format | Informe técnico |
| id | CGSpace155443 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2024 |
| publishDateRange | 2024 |
| publishDateSort | 2024 |
| publisher | American Enterprise Institute |
| publisherStr | American Enterprise Institute |
| record_format | dspace |
| spelling | CGSpace1554432025-01-17T21:28:20Z Food price inflation and the 2024 presidential election Smith, Vincent H. Glauber, Joseph W. food prices COVID-19 inflation supply chain disruptions income Key Points The 2024 presidential candidates from both major parties have prioritized food price inflation as a key campaign issue, though their explanations about the causes of higher food prices seem to overlook the lasting effects of the COVID-19 pandemic on food supply chains and global inflationary pressures. During the pandemic, food prices for consumption at home increased sharply but have since moderated, increasing at only about 1 percent annually since 2022 and more slowly than the general inflation rate. Prices for food away from home have followed a similar path but are now increasing at about 3 percent a year. The share of income spent on food increased modestly during the pandemic for all households, but by much less than some commenters suggest, even for low-income households, which only modestly increased the share of their income spent on food by 1.3 percentage points. 2024-10-16 2024-10-21T16:24:26Z 2024-10-21T16:24:26Z Report https://hdl.handle.net/10568/155443 en Open Access American Enterprise Institute Smith, Vincent H.; and Glauber, Joseph W. 2024. Food price inflation and the 2024 presidential election. Washington, DC: American Enterprise Institute. |
| spellingShingle | food prices COVID-19 inflation supply chain disruptions income Smith, Vincent H. Glauber, Joseph W. Food price inflation and the 2024 presidential election |
| title | Food price inflation and the 2024 presidential election |
| title_full | Food price inflation and the 2024 presidential election |
| title_fullStr | Food price inflation and the 2024 presidential election |
| title_full_unstemmed | Food price inflation and the 2024 presidential election |
| title_short | Food price inflation and the 2024 presidential election |
| title_sort | food price inflation and the 2024 presidential election |
| topic | food prices COVID-19 inflation supply chain disruptions income |
| url | https://hdl.handle.net/10568/155443 |
| work_keys_str_mv | AT smithvincenth foodpriceinflationandthe2024presidentialelection AT glauberjosephw foodpriceinflationandthe2024presidentialelection |