Economics has a term for what U.S. grocery prices have done in recent years. It's the rockets and feathers effect. Rockets, because the cost of food for eating at home shot up up after the coronavirus pandemic. Feathers, because prices fall slowly once they increase. That’s frustrating for Americans digesting a 33% jump in grocery prices since 2019 — the sharpest increase in 50 years. Food price inflation peaked nationwide in 2022, but it hasn’t reversed course. An acceleration during the Iran war prolonged the aggravation. A recent study by the consulting firm Bain & Co. and market research company NielsenIQ found that shoppers are buying fewer items at grocery stores.
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The City of Dover is considering a rate hike for water and wastewater services to address rising costs and fund essential infrastructure improvements.
Egg prices are cracking local restaurants’ budgets as costs continue to rise across the country. The U.S. Department of Agriculture predicts egg prices will climb at least 20% in 2025. In December, the cost of a dozen eggs averaged $4.15, an increase of nearly 37% compared to the same time last year.
Thousands of dock workers are set to strike tomorrow across the country, halting operations at ports from Massachusetts to Texas and threatening significant disruption to the U.S. supply chain. The walkout could trigger the most severe impact on commercial shipping since the COVID-19 pandemic, with potential ripple effects across the economy, including here on Delmarva.