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- Social, economic and environmental externalitiesFood prices are low due to various social, economic and environmental externalities1. In the United States, the true cost of food is three times the amount Americans pay1. Global food prices have eased in recent months, while oil prices have also dropped2. To keep prices low, producers and supermarkets have had very small profit margins3. Store loyalty has decreased over time, with consumers more likely to shop around for the best prices4.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.When externalities are taken into account, the true cost of food in the United States is three times the amount Americans pay. This means that much of the food we buy is underpriced because of various social, economic and environmental externalities.phys.org/news/2023-07-true-food-high-grocery-pric…Global food prices have eased in recent months, while oil prices have also dropped. And as many like Edda cut back or switch to less expensive items, food companies, which have been passing on higher costs to customers while booking strong profits, may also find it harder to raise prices.www.bbc.com/news/business-63040393As is the case with wider inflation and interest rates, the UK has enjoyed low food prices for a long time, with prices ranked the third most affordable in the world. To keep prices low, this has meant producers and supermarkets have had very small profit margins.uk.news.yahoo.com/uk-inflation-why-food-prices-12…Why have Britons come to spend less and less of their income on food? It's partly a reflection of how people shop. Store loyalty has decreased over time, with consumers more likely to shop around for the best prices.www.bbc.com/news/business-45559594
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