Grocery Prices Drop 0.1% in September, But Remain Elevated Due to Fuel Costs
What happened
Grocery prices dropped 0.1% on a seasonally adjusted basis in September, according to government data, but they remain 1.8% higher than a year earlier. While costs fell for items like meat and bread, prices climbed for fresh fruit, coffee, and candy.
From wondradio.com
Why it matters
A historic oil shock, driven by the Iran war, previously caused a surge in diesel costs, which led to price hikes throughout the supply chain. Although the cost pass-through to consumers has eased for some products, overall grocery prices are still elevated compared to the previous year.
From wondradio.com
Who's involved
- ABC NewsReported on the sensitivity of diesel costs
- Middle EastThe Iran war drove the oil shock that increased diesel costs
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Forest CitySpeculative
Forest City might see increased costs for perishable foods due to supply-chain expenses related to diesel prices.
- Middle EastSpeculative
The Middle East could see changes in oil supply and costs due to geopolitical tensions.