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  • 3 months ago
Grocery prices rose 3% year-over-year, driven by climate disruptions, supply chain instability, and lingering impacts from Trump-era trade policies, according to Axios. Coffee prices surged 13.4% as heat and drought impacted crops in Brazil and Vietnam, while ground beef climbed 10.3% amid drought-driven feed costs and shrinking cattle herds. Egg prices jumped 27.3%, largely due to bird flu outbreaks. The USDA notes long-term declines in U.S. farming, while global price spikes underscore the growing toll of extreme weather. Extreme weather driven by climate change is already harming crops and raising global food prices, and will worsen without net-zero emissions, according to study author Maximilian Kotz.
Transcript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Grocery prices rose 3% year over year, driven by climate disruption, supply chain instability,
00:08and lingering impacts from Trump-era trade policies, according to Axios.
00:12Coffee prices surged 13.4% as heat and drought impacted crops in Brazil and Vietnam,
00:17while ground beef climbed 10.3% amid drought-driven feed costs and shrinking cattle herds.
00:23Egg prices jumped 27.3%, largely due to bird flu outbreaks.
00:27The USDA notes long-term farm declines in the U.S.,
00:30while global prices spike underscore the growing toll of extreme weather.
00:34Extreme weather, driven by climate change, is already harming crops and raising global food prices
00:39and will worsen without net-zero emissions, according to study author Maximilian Kotz.
00:43For all things money, visit Benzinga.com.
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