Latest news with #foodinflation
Yahoo
21 hours ago
- Business
- Yahoo
Democrats post chart of record-high US grocery prices in swipe at Trump — but it backfired. Here's what they missed
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Over the past few years, Americans have felt the sting of rising grocery bills. While there are many factors behind food inflation, the Democratic Party tried to pin the blame squarely on the current commander in chief, President Donald Trump. In a now-deleted post, the X account for the Democratic National Committee shared a chart claiming 'U.S. Grocery Prices Reached Record Highs in 2025,' noting that prices were 'higher today than they were on July 2024 [in all] major categories.' The caption? Just two words: 'Trump's America.' Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it But the post quickly backfired. Users on X pointed out that the chart showed data stretching from October 2019 to early 2025 — and the steepest rise in prices clearly occurred in 2021, when Joe Biden was in office. While this may go down as a major social media blunder, it doesn't change one harsh truth: grocery prices have surged. And while the pace of increase may be slowing, many essential items are still significantly more expensive than they were just a few years ago. According to the June 2025 Consumer Price Index report from the Bureau of Labor Statistics, the food index went up 3.0% over the past 12 months. Beef and veal prices surged 10.6%, chicken rose 3.9%, and eggs spiked a whopping 27.3%. Zoom out, and the picture is even grimmer: since the beginning of 2020, the food index has climbed 30%. Economists often point to COVID-era supply chain disruptions, stimulus checks and loose monetary policy as key contributors to the inflation spike in 2021. But regardless of who's in power, one reality remains: inflation quietly erodes your purchasing power. The good news? Savvy investors have long turned to certain assets to shield their wealth from inflation's bite. Here's a look at how they do it. Gold Gold has helped people preserve their wealth throughout history. Today, its appeal is simple: unlike fiat currencies, the yellow metal can't be printed at will by central banks. It's also widely regarded as the ultimate safe haven. Gold is not tied to any one country, currency or economy, and in times of economic turmoil or geopolitical uncertainty, investors often flock to it — driving prices higher. Over the past 12 months, the price of the precious metal has surged around 35%. Ray Dalio, founder of the world's largest hedge fund, Bridgewater Associates, has repeatedly emphasized gold's importance in a resilient portfolio. 'People don't have, typically, an adequate amount of gold in their portfolio,' he told CNBC earlier this year. 'When bad times come, gold is a very effective diversifier.' One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Priority Gold. Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an option for those looking to help shield their retirement funds against economic uncertainties. When you make a qualifying purchase with Priority Gold, you can receive up to $10,000 in precious metals for free. Read more: BlackRock CEO Larry Fink has an important message for the next wave of American retirees — Real estate Gold isn't the only asset investors rely on to preserve their purchasing power. Real estate has also proven to be a powerful hedge. When inflation rises, property values often increase as well, reflecting the higher costs of materials, labor and land. At the same time, rental income tends to go up, providing landlords with a revenue stream that can adjust with inflation. Over the past five years, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index has jumped by more than 50%, reflecting strong demand and limited housing supply. Of course, high home prices can make buying a home more challenging, especially with mortgage rates still elevated. And being a landlord isn't exactly hands-off work — managing tenants, maintenance and repairs can quickly eat into your time (and returns). The good news? You don't need to buy a property outright — or deal with leaky faucets — to invest in real estate today. Crowdfunding platforms like Arrived offer an easier way to get exposure to this income-generating asset class. Backed by world-class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns or handling difficult tenants. The process is simple: browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you'd like to purchase, and then sit back as you start receiving any positive rental income distributions from your investment. Another option is Homeshares, which gives accredited investors access to the $35-trillion U.S. home equity market — a space that's historically been the exclusive playground of institutional investors. With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property. With risk-adjusted target returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets. Stretch your dollars on everyday essentials At the end of the day, grocery inflation is just one piece of the puzzle. From rent and utilities to gas and dining out, the cost of living has climbed across the board — leaving many Americans feeling squeezed. That's why it's more important than ever to keep a close eye on your spending — and look for savings where you can. One simple way to do that? Use platforms like the Upside cash-back app to save on everyday essentials like gas and groceries. After downloading the app, simply claim offers at locations near you. For example, users can earn up to 25 cents back per gallon on fuel, helping to ease the sting at the pump. Plus, you can also get a bonus 25 cents off per gallon with the code MONEYWISE25 on your first transaction when you sign up. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Daily Mail
a day ago
- Business
- Daily Mail
Food price inflation could rocket to six per cent in the next five months due to Labour's budget, retail experts warn
Food price inflation is set to skyrocket to six percent by the end of year due to Labour's previous budget and could pose 'significant challenges' to households, retail experts have warned. The British Retail Consortium (BRC) has predicted food inflation, which currently sits at four percent, will rise by two percent in the next five months. Over half of retail chiefs, representing over 9,000, told a survey carried out by the industry body that they feel 'pessimistic' about upcoming year, an are expecting more price rises. And most, 85 per cent, blamed price rises on Rachel Reeves ' budget plans, which saw the Chancellor increase employer national insurance and the national living wage in April. The BRC said of the predicted rise in food costs: 'This will pose significant challenges to household budgets, particularly in the run-up to Christmas.' Nearly half of chief financial officers also revealed they had frozen hiring, while 38 percent had lowered the number of in-store jobs, which was further supported by official job figures. In the first quarter of 2025, there were almost 100,000 fewer retail jobs in comparison to the previous year, according to the BRC. And while a third of CFOs confessed they had slashed local community investment, another 15 percent had delayed opening new branches. BRC chief executive Helen Dickinson told The Independent: 'Retail was squarely in the firing line of the last budget, with the industry hit by £7 billion in new costs and taxes. 'Retailers have done everything they can to shield their customers from higher costs, but given their slim margins and the rising cost of employing staff, price rises were inevitable. 'The consequences are now being felt by households as many struggle to cope with the rising cost of their weekly shop. 'It is up to the Chancellor to decide whether to fan the flames of inflation, or to support the everyday economy by backing the high street and the local jobs they provide.' Last January, the industry body anticipated food prices would skyrocket, on average, by 4.2 percent towards the tail end of the year, as retailers grappled with heightened costs as a result of the budget. Ms Dickinson previously said analysis from both industry heads and the trade association suggested there was 'little hope of prices going anywhere but up' due to national living wage and national insurance hikes. Last week, Worldpanel by Numerator, a market research firm previously known as Kantar, said grocery prices were soaring at the fastest rate in the last year and a half. In the four weeks to July 13, food cost inflation rose to 5.2 per cent, up from 4.7 per cent the month prior - the highest since January 2024. Shoppers are predicted to spend £275 more annually on average, according to the market research firm.
Bloomberg
a day ago
- Business
- Bloomberg
Stock Futures Surge on Robust Big Tech Earnings
Good morning. Stock markets may get a boost from Microsoft and Meta earnings. British retailers warn food inflation will further rise. And ICYMI, take a look at Tesla's new venture: an American diner. Listen to the day's top stories. US and European stock futures climbed after strong results from Big Tech bolstered optimism that corporate profits remain resilient. Microsoft may open higher in the US on plans to invest more than $30 billion on AI data centers. Meta is also increasing AI spending —the stock soared 11% after-market.
Sky News
a day ago
- Business
- Sky News
Budget: Christmas food price shock looms, chancellor warned
Food inflation will rise to 6% by the end of the year - posing a "significant challenge" to household budgets in the run-up to Christmas, industry leaders have predicted. The British Retail Consortium is warning that the chancellor risks "fanning the flames of inflation" if she hikes taxes in the coming budget. Despite intense price competition between supermarket chains, the BRC has sounded the alarm over the pace of grocery price hikes. As of this month, food inflation has risen 4% year on year - its highest level since February 2024. The BRC said this increase is linked to global factors, such as high demand and crop struggles. Beef, chicken and tea prices are among those that have risen the most this year - but some of the blame is being laid squarely at the chancellor's door too. The BRC said it was inevitable that a £7bn burden, through changes to employers' national insurance contributions and minimum pay rules after last October's budget, had been partly passed on to customers in the form of higher prices. 2:29 It published the results of a survey of retail industry finance chiefs to illustrate its point - that nerves about what Ms Reeves's second budget could bring were not helping companies invest in either new employment or prices. Business was promised it would be spared additional pain after it was put on the hook for the bulk of the chancellor's tax-raising measures last year. However, speculation is now rife over who will feel the pain this autumn as she juggles a deterioration in the public finances. 3:33 A widening black hole is estimated at around £20bn. The cost of servicing government debt has risen since the last budget, while U-turns on welfare reforms and winter fuel payment cuts have made her job even harder - making further tax-raising measures inevitable. The survey of chief financial officers for the BRC showed the biggest current fear ahead was for the "tax and regulatory burden". Two-thirds of the CFOs predicted further price rises in the coming year, at a time when the headline rate inflation already remains stuck way above the Bank of England's target of 2%. It currently stands at 3.6%. Helen Dickinson, chief executive of the BRC, said: "Retail was squarely in the firing line of the last budget, with the industry hit by £7bn in new costs and taxes. "Retailers have done everything they can to shield their customers from higher costs, but given their slim margins and the rising cost of employing staff, price rises were inevitable. "The consequences are now being felt by households as many struggle to cope with the rising cost of their weekly shop. "It is up to the chancellor to decide whether to fan the flames of inflation, or to support the everyday economy by backing the high street and the local jobs they provide." She concluded: "Retail accounts for 5% of the economy yet currently pays 7.4% of business taxes and a whopping 21% of all business rates. "It is vital the upcoming reforms offer a meaningful reduction in retailers' rates bill, and ensures no store pays more as a result of the changes."
Bloomberg
a day ago
- Business
- Bloomberg
UK Food Inflation to Hit 6% by Christmas, Retailers Warn Reeves
British retailers warned food inflation will hit 6% by the end of the year as they raise prices in response to April's hike in payroll taxes and the minimum wage. A survey by the British Retail Consortium found two-thirds of firms plan to increase prices further after being squeezed by the Labour government at its first budget. Some 85% said they have already responded by putting up costs for consumers.
