EJ Antoni is a public finance economist and the Richard F. Aster research fellow in The Heritage Foundation’s Grover M. Hermann Center for the Federal Budget.
If you’ve had to change your buying habits at the supermarket lately to save money, you’re not alone.
The stratospheric rise in food prices in the past three years has forced many families to forgo groceries they used to enjoy in exchange for cheaper alternatives.
This change in consumer behavior is emblematic of the painful decisions American families must make in the Biden-Harris economy. Disturbingly, nationwide data is even showing the resurgence of an economic phenomenon made infamous in the 19th-century Irish potato famine.
When a blight decimated the potato crop in Ireland, the supply of potatoes dwindled, and their prices rose dramatically. Normally, higher prices cause consumers to demand less of a product or service, but not this time. […]
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