Prices went up quickly and are not coming down – Australian Economist Jim Stanford

Inflation has been a hot topic in every country in the world and there's no topic that gets people more "riled up" than food price inflation.

This was highlighted by an economist and director of the Centre for Future Work Jim Stanford.

Stanford says there is a situation where world commodity prices, world bulk agricultural products, and others, are coming down in price a lot and it has not been seen passed through in food prices at the supermarket.

He says prices went up quickly but they are not coming down.

Reports say over the years, Australia’s supermarket sector has faced criticism and scrutiny, and it's been reaching fever pitch again in recent months, with a number of investigations underway into their business practices during the current cost-of-living crisis.

There are also Australian producers who feel angry at the widening gap between farmgate prices and supermarket prices.

Source: abc.net.au