Rising concerns due to increased food prices...

Despite the fact that the feds have been adopting a hawkish approach, hiking interest rates to counter the rising inflation, food prices keep soaring. The fourth interest rate hike is at hand but would food prices keep increasing?

The prices of groceries are up a whopping 13% over the last year and have increased by 0.7% again in the last two months.

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Prices of common commodities such as wheat, grains, etc. have decreased however as a result of the ongoing conflict between Russia and Ukraine, the region responsible for the distribution of a significant amount of these products has been disrupted hence, these commodities remain volatile. The rates keep soaring, and let's be honest, they probably would keep doing so. I don't think a time would come when inflation isn't something to worry about. It's just part of everyday life as well as a measure of economic control. However, if the rates keep increasing at the current progression, it's highly likely we would hit a double digital yearly food inflation by January.

The behaviors of many Americans have been dramatically modified and the standard of living has fallen quite a bit as rent and medical prices have skyrocketed. However, we expect a breakthrough soon in the coming months and have been seeing the signs. Rent on new leases is decreasing quite a bit and according to pantheon macroeconomics, the sharp rises in medical and insurance premiums would soon be followed by a decline. It would be a slow pullback but as economics would have it. If you expect to maintain a steady consumer level you would have to balance or make a trade-off between your spending and saving habits. Cut back unnecessary spending, cut out unneeded groceries, reduce dine-out habits and focus on essentials.