Sticker shock at the grocery store could be letting up. According to chair of insights and ecosystems and chair of McKinsey Global Institute Sven Smit and colleagues, food price inflation has slowed. However, prices of food items in some regions remain as much as 30 or 40 percent above prepandemic norms.
To read the article, see “Global Economics Intelligence executive summary, February 2023,” March 16, 2023.