High prices are changing how we eat
Food inflation is affecting American diets, with grocery prices up 0.5% in November. Consumers are eating less meat and dining out less, while chefs adjust recipes for affordability.
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Food inflation continues to impact American eating habits, with grocery prices rising by 0.5% in November. Although food inflation for 2024 is projected to be lower than historical averages, consumers are still feeling the pinch. Factors such as climate change and avian flu have contributed to rising prices, particularly for meat and poultry. As a result, many Americans are reducing their meat consumption and opting for more affordable protein sources, such as legumes. Restaurant visits have also declined, with a reported 6% drop in transactions during the third quarter of the year. Chefs are adapting their recipes to reflect these changes, incorporating less meat into their meals. Overall, while inflation may be slowing, the effects on consumer behavior and dietary choices are evident.
- Grocery prices increased by 0.5% in November.
- Food inflation for 2024 is expected to be lower than historical norms.
- Climate change and avian flu are significant contributors to rising food prices.
- Consumers are reducing meat consumption and dining out less frequently.
- Chefs are adapting recipes to include more affordable protein sources.
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Why fast-food price increases have surpassed overall inflation
Fast-food prices rose nearly 28% from 2019 to 2023, outpacing the 19% overall CPI increase, driven by rising labor costs, particularly in high minimum wage states, affecting financial results of major chains.
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