Is President Biden responsible for high food prices? Will they ever return to pre-pandemic levels? Looking at egg and beef prices may be instructive.
Republicans blamed Biden while eggs averaged $4.82/doz., but became silent as they fell to $2.14. When avian flu killed 58 million chickens, eggs were in short supply — which returned to normal as the population recovered.
Beef prices became a similar supply story when drought decimated cattle forage. Ranchers reduced their herds to “the smallest number in years”. Unfortunately, it’ll take up to four years to rebuild them. So beef prices will undoubtedly stay high for few more years.
Last year some other prices decreased, meaning the same Thanksgiving dinner cost 4.5% less than in 2022. But many increased, though at a slower rate than previously. As with egg and beef prices, those increases also resulted from factors beyond Biden’s control: Putin’s invasion of Ukraine, supply chain disruptions and consolidation of food processors that reduced competition and resulted in record profits.
Is there any hope that we can expect lower grocery bills any time soon? Probably not. Food processors have little incentive to reduce prices, and believe we may have become accustomed to them.
The likely solution is to have wage increases make food prices more affordable. That is now happening, thanks to Biden’s middle class economic policies. Last year wages increased faster than food prices, 4.1% versus 3.3%.
President Biden did not cause high food prices, but his economic policies are delivering much needed relief.
—————————————————————————-
I’ll gladly supply references if you wish.
Thanks for your consideration.
Richard Meili
8971 Donley Rd.
Waterville, NY 13480
315-841-8231
Don’t fall for the Biden is not at fault for the way things have been going. And things written about how things really are from some of the people who don’t live here and don’t feel what it’s like to live here and the failures of the Present to protect us from immigrants and price hikes brought on by his policies. If you think it’s bad now just think what it will be like if we allow 4 more years of this. The choice is yours and do not let someone else tell you what to think or how to vote. Choice is yours and yours alone .