With supply chains snarled across the globe, food prices are on the rise as businesses contend with interminable shipping delays. Unlike many other items at the supermarket, though, cheese prices have remained relatively stable thanks to a number of factors discussed in the video below.
Questions:
- Why does cheese maintain a relatively stable price compared to other staple foods like ground beef and apples?
- What is “price smoothing” and how does it keep prices stable at supermarkets for consumers?