Because there's no indication of inflation let alone hyperinflation in any economic data or a 'currency crisis' whatever that means.
In fact a sharp decline in demand seems to have outweighed reduction in supply leading to if anything, deflation. (which is in line with data as inflation has slowed to about 0.3%, down a percent from last year).
Given how large the service sector is in particular in the US, and how strongly it is affected by social distancing measures, disinflationary preasures are very likely to persist for a while.
Sure, but the US economy doesn't just run on food. In that particular sector the price increases make inuitive sense, as consumption is expected to stay mostly steady while supply chains have been heavily impacted.
Inflation is measured, for very obvious reasons, by looking at the general price level of goods and services in the economy, not just any given sector.
I agree that there's little sign of unusually high general inflation, but you said "there's no indication of inflation let alone hyperinflation in any economic data", and the sudden rise in food prices is definitely an indication of inflation. You may want to coach/moderate your statements a little more in the future.
No, I don't need to do that to be honest. A 2% increase in food prices while the general price levels fall is not an indication of inflation unless someone redefines inflation and cherry picks data to advance their cause. (In this case the annual doomsday prediction about inflation, which is normal on HN with its substantial contingent of people who rant about fiat money).
Timescales matter; a 2% increase in food prices over a year would be an indication of normal inflation; a 2% increase over a month indicates above-average food price inflation. In either case, the evidence of inflation in one area does not mean there is generally high inflation, it just means one thing is increasing in price.
You can call it cherry-picking, but any presentation of data in this format will be guilty of that, so it's not a particularly damning indictment.
As I said before, I don't agree with the previous version of the other post, but I think you're being a bit broad.
I saw a chart about what hyperinflation in the Weimar Republic did the average family budget. The price of food skyrocketed and the price of just about everything else struggled to keep up. Before food/rent/fuel/other was each 30,30,30,10 percent of the budget. At the end food was 90% of the budget. Rent at 0.2% was a rounding error.
In fact a sharp decline in demand seems to have outweighed reduction in supply leading to if anything, deflation. (which is in line with data as inflation has slowed to about 0.3%, down a percent from last year).
Given how large the service sector is in particular in the US, and how strongly it is affected by social distancing measures, disinflationary preasures are very likely to persist for a while.