U.S. Food Inflation Is Easing, But It’s Still Costing Consumers
Key takeaways
- Food price inflation slowed to 7.7% in April, down from 8.5% in March
- Inflation is slowing but still higher than anyone, including the Fed, would like
- AI investing is a fuss-free way to grow a new income source amid high inflation
The latest inflation data is in and it’s good news for food and drink prices: they only rose 7.7% annually. Yeah, it can be tricky to see how that’s a good thing when the cost of living crisis rages on, but it means food prices should slowly start to come down. Until then, we’ve got some tips on how to build a new income stream: AI investing.
If you’re reading this, chances are you’re worried about inflation. Q.ai has your back with the Inflation Protection Kit, which helps hedge against inflation while growing your returns. The AI algorithm looks for the securities, precious metals and commodities ETFs that are performing well for the week, and then allocates funds accordingly.
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What’s the latest with U.S. food inflation?
The consumer price index (CPI) data was out yesterday, and with it came some insight into just how U.S. grocery prices are faring. The cost of foodstuffs and non-alcoholic beverages rose by 7.7% in April year-on-year, a decrease from March’s 8.5% figure and February’s eye-watering 9.5% result.
The main culprits were cereals and bakery products, which rose 12.4% in April annually. Non-alcoholic drinks increased 9.5%, dairy products were up 8% and meat, poultry, fish and eggs climbed 2.8%.
It might not look like it, but this is a good result. The latest data means while food prices in April increased from April 2022, the rate is slowly falling — and we’re well past the 11.4% food inflation peak from August last year.
How to use AI to increase wealth
So, food inflation is slowly coming down. But the Fed’s fight with overall inflation is proving to take longer than anticipated, which doesn’t help in the short term (have you seen the price of eggs lately?).
One low-cost option to open up a new revenue stream is AI investing. The benefit of using AI for your portfolio is that it can analyze vast amounts of data far quicker and more accurately than any human, helping you catch the upside more often.
An AI can also spot any risks on the horizon thanks to the data, so they’re a good option for mitigating risk and diversifying your investments as they can reallocate funds to different sectors performing better, helping you keep more of your money.
So if food inflation has you down, take a look at new ways to build wealth as an option for diversifying your income.
The bottom line
Food inflation is coming down, but it’s still biting. Thankfully, there are new ways to help build wealth so you don’t need to remortgage every time you do the weekly grocery shop. (We kid.) AI investing is one of them — and getting started is easier than ever.
If you want to try out AI investing while tackling recession fears, then Q.ai’s new Recession Resistance Kit is the one for you. The AI looks for recession-proof companies that are holding or gaining value, then diverts your funds to help you maximize your investment each week.
Download Q.ai today for access to AI-powered investment strategies.
