With the Biden Administration failing to address out-of-control inflation, it appears that grocery costs are slowing their staggering climb but high prices remain the norm for 2023. The U.S. Department of Agriculture confirms this news and predicts that Bidenflation is likely to remain high but at a slower rate than what we witnessed in 2022.
Many Americans are left outraged by the historic price inflation at the grocery store, and it seems like prices won’t be going down anytime soon. With the war raging in Europe and fertilizer shortages this looks like food prices won’t slow any time soon.
Daily wire reports, although inflation has slightly decreased, Americans still feel the pinch at the grocery store, and prices will likely remain high in 2023.
According to the US Department of Agriculture, food prices are expected to rise, but at a slower rate than in 2022. In the future, prices will remain higher than historical averages.
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One of the major driving factors for rising food prices is the increasing fertilizer shortage.
Modern Farmer reports, according to a study by the Food and Agriculture Organization of the United Nations (FAO) and the World Trade Organization, the fertilizer crisis that has been steadily growing since 2021—when the World Bank reported a 66-percent rise in fertilizer prices due to shortages—is likely to persist throughout 2023.
Supply chain issues caused by pandemics, Russia’s war in Ukraine-both major exporters of agricultural commodities such as fertilizers and the compounds used to make them-and high inflation all contribute to the shortage. Farmers are both unable to get fertilizer and are forced to pay more for it as a result of the resulting market.
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There is no doubt that food prices will remain high in 2023, not to mention food shortages and a shortage of key components for fertilizer. President Biden has failed America and the world, as food supply issues caused by pandemics, Russia’s war over Ukraine, and inflation costs have played into shortages seen across the globe. Americans can only brace themselves for more expensive food in 2023 – it’s scary to think what could await us all if food security around the globe is not restored.
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