Quoted: “I think that there was some concern that inflation would continue to accelerate,” said Tessa Conroy, an assistant professor of agricultural and applied economics with the University of Wisconsin-Madison. “Producers haven’t been able to respond with supply as enthusiastically as consumers have responded with demand as the economy has sort of opened back up.”
Conroy said the new numbers indicate the current accelerated inflation is a temporary trend brought on by supply shortages.
“I think that’s hopeful for a lot of consumers in particular, that as some of the short-term problems resolve themselves, prices will stabilize,” said Conroy.