Grocery inflation cooling at a -0.9% rate

DELMARVA – You’ve probably realized the price of your eggs lowering.

The reason is grocery inflation is cooling.

Officials say prices hiked following the pandemic with food processing facilities slowing down or pausing operations. Oil is another hot take because of the war in Ukraine, oil prices have also been high.

According to the Council of Economic Advisers, in April grocery inflation was -0.9% which is down from 1.5% in March.

47 ABC spoke with Bill Chambers, who explains who will benefit from prices dropping back down. “The devastating part of grocery inflation is that it impacts lower-income consumers much more dramatically, low-income consumers spend about 30% of their total income on groceries, ” Bill Chambers, President and CEO of the Salisbury Area Chamber of Commerce said.

Chambers says the Salisbury Area Chamber of Commerce has also been asked will the Fed raise rates again and the answer is stay tuned because the inflation rate is not cooling at the rate Fed had intended.