Stubborn inflation is less in the United States than in the rest of the developed world, according to a new study. But it is still having a profound effect on food insecurity in our area.
E-commerce platform Ubuy compiled data across 12-month, three-year and five-year periods from the U.S., Canada, Australia, the European Union and United Kingdom. The”¯new report”¯found that the U.S. has seen the lowest regional inflation change in a 12-month period, with inflation on food items increasing 8.5% on average. This is significantly lower than the international average of all countries in the study, 18.2%.
Moving into the longer-term, three-year inflation figures for the U.S. on average were 24.1% ”“ still lower than the international average of 30.8%. Similarly, five-year inflation data was at 26.4% on average, almost 10% below the international average (36.3%).
The research revealed that the product that has seen the biggest price increase in a 12-month period in the U.S. is eggs. The common household cooking ingredient has seen inflation rise by more than a third (36.0%). Analyzing data over three years, eggs have seen inflation increase by a shocking 83.2% ”“ with five-year figures showing a 64.8% increase overall.
Similarly, other products with high 12-month inflation values include bread (15.2%), yogurt (16%), sugar (12.7%) and edible oils, excluding olive oil (15.9%).
Overall, the report helped to provide an analysis of the rise in food costs over these periods. The data revealed that, despite seeing some significant increases on certain products, the United States is one of the best countries for food inflation rates, with the lowest regional average increase over 12 months.
But this is cold comfort to struggling Americans hit by inflation as well as cuts to SNAP (Supplementary Nutrition Assistance Program) that resulted from the end of pandemic-era programs. A new poll from”¯No Kid Hungry New York”¯found that 73% of people in the state are struggling to afford groceries. The nonprofit Feeding Westchester said that the number of neighbors visiting its feeding network this March, when benefits were cut, skyrocketed to 245,000 total visits.”¯One year ago, Feeding Westchester had slightly more than 200,000 neighbor visits.
Feeding Westchester also said it”™s seeing more benefits cut, including to women and children, along with those to continuous Medicaid coverage.”¯
