While inflation is showing signs of easing in many countries at the moment, in the US, one essential commodity keeps getting more expensive: sugar.
The US is the world’s fifth largest sugar producer, which sugarcane grown in the south and sugar beets in the north.
Even though the cost of sugar is rising worldwide, Americans pay twice as much as the global average for sugar because of a government policy.
Brought about to protect domestic producers, a protectionist policy taxing imports of sugar is actually creating higher prices, a report by the government accountability office found in October.
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