Your produce bill is about to get pricey as the Iran war jacks up US food costs
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Your produce bill is about to get pricey as the Iran war jacks up US food costs
""Fresh food and perishables are almost like the canary in the coal mine," when energy prices go up, according to Vidya Mani, an associate professor at the University of Virginia's Darden School of Business."
""The biggest, most direct impact on grocery prices is going to be through the price of fuel," said David Ortega, a professor and the Noel W. Stuckman chair in food economics and policy at Michigan State University."
""Energy-related pressures" pushed up prices across a range of goods, with sugar and vegetable oil notching the largest increases, according to a summary from the United Nations."
Wholesale prices for fruits and vegetables have sharply increased due to higher oil prices linked to the ongoing war in Iran. Fresh produce is particularly affected as it is energy-intensive, with rising diesel costs impacting transportation and refrigeration. The United Nations reported a rise in its food price index, driven by energy-related pressures. Experts indicate that the most direct impact on grocery prices stems from fuel costs, especially for perishable items that require cold storage during transport.
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