Despite recent declines in the pace of inflation, costs for consumers continue to rise, particularly at the grocery store. For example, according to market research firm NielsenIQ, the cost of mayonnaise rose 23% between May 2022 and May 2023, and applesauce prices rose by 22%.
These types of price increases are weighing on consumer spending.
“Overall, there continues to be a similar narrative of extended upward pressure on food prices as we try to discern whether this stress has led to a tipping point where consumers are struggling to buy the foods that they want,”
—Jayson Lusk, Department Head and Distinguished Professor, Department of Agricultural Economics at Purdue University, July 2023
What can Americans do to protect their portfolios from the effects of rising consumer prices?
Click on the video link below for exclusive executive insights on this topic from U.S. Money Reserve’s Coy Wells.
Related headlines from around the web:
- The Wall Street Journal: “The Supermarket Aisle Where Prices Are Still Soaring”
- MarketWatch: “As food prices rise in June, analysts warn of a ‘tipping point’ for Americans”
- Reuters: “Gold rises as U.S. dollar, yields slip after Fed rate hike”
Don’t wait for rising prices to impact your savings—protect your portfolio with precious metals today.
Gold has historically been used as a hedge against economic uncertainty and market turbulence. As paper-based assets like stocks continue to experience volatility and inflation continues to deflate the dollar’s purchasing power, now may be the perfect time to add wealth protection to your portfolio in the form of physical gold.
Watch U.S. Money Reserve’s “Market Insider” each week for more economic insights. Nothing herein should be considered as portfolio or retirement advice as U.S. Money Reserve (“USMR”) cannot and does not offer financial advice. Clients should consult a financial advisor for specific advice. This commentary is provided by USMR for informational purposes only and is provided on an “as is” basis without any warranty of any kind, whether express or implied. Your use of the information provided in this commentary is entirely at your own risk. In no event will USMR be held liable for any indirect, special, incidental, or consequential damages arising from the use of information contained in this commentary.