Inflationary pressure in the US is showing signs of increasing, with the Personal Consumption Expenditures (PCE) index soaring to 3.8% year-on-year in April – reaching its highest level since 2023. However, the story of spending is now being viewed from a completely new perspective, centered around a once-indispensable agricultural product: the tomato. Once an indispensable item in every kitchen, the price of tomatoes in the US has now risen by 40% compared to last year, becoming the clearest symbol of how much consumer purchasing power is being tightened in the world's largest economy .
From quick sandwiches to refreshing salads, tomatoes have long been a staple in American meals. But now, this small agricultural product is becoming a burden on consumers' wallets as prices skyrocket to double digits. The exorbitant price increase has completely overshadowed the increases in other food items like beef or coffee, making tomatoes the new barometer of inflationary pressure in American supermarkets. Besides weather and disease-related factors that have reduced production, economic experts point out that the core reason for this high price stems from the conflict in the Middle East and the US trade policy with Mexico. Geopolitical tensions have driven up shipping costs, while new tariffs have been continuously imposed on imports from Mexico – the largest supplier of tomatoes to the US market.
Professor Ken Foster of Purdue University, USA, stated: "Fruits and vegetables require a lot of energy for transportation and storage. Therefore, this is one of the items where we will see the impact of the energy shock reflected in supermarket prices sooner than other items."
The U.S. withdrawal from its tariff-free agreement with Mexico last July resulted in an immediate 17% tariff on imported tomatoes. Federal data shows that tax revenue from this item has increased from over $16,000 in 2024 to nearly $4.6 million today. This increased cost is immediately passed on to consumers. At many produce counters, tomato prices have been pushed to record highs, equivalent to $16 per kilogram.
Cindy Ayers-Elliott, director of Foot Print Farm, shared: "Because everything is getting more expensive, our selling costs are also increasing. We are forced to raise prices as little as possible to maintain a profit margin sufficient to keep the business afloat."
Experts predict that price pressure may ease towards the end of this year as the market enters the US domestic tomato harvest season, encouraging farms to increase planting acreage. However, until then, this agricultural product will continue to be a headache for both consumers and economic managers in the US.
Source: https://vtv.vn/khi-ca-chua-tro-thanh-thuoc-do-lam-phat-tai-my-100260601231326722.htm
Comment (0)