Look for food prices to come down around Thanksgiving. As soon as the energy production ramps up all prices will start down.
“Look for food prices to come down around Thanksgiving.”
Why?
“As soon as the energy production ramps up all prices will start down.”
Energy costs make up between 5-10% of food costs. Energy prices should weaken as US and other economies slow down. But it won’t have a dramatic effect. Moreover, oil production isn’t going anywhere in the short term. That’s not how the industry works.