Food Inflation and Higher Input Costs May Ease but Will Still Persist Through 2022
Rising prices are impacting every aspect of the food and agriculture supply chain and that may not change dramatically through the balance of 2022 according to officials with the Federal Reserve Banks of Minneapolis and Kansas City.
The two held a symposium to look at the increased input costs on the farm and well as higher food prices. Officials say these are consequences of recent upheavals in global commodity markets with the war in Ukraine and rising costs of food processing, transportation, and labor shortages. And the outlook isn’t expected to improve for the 2023 crop season, which will cut into farm profitability.
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The two held a symposium to look at the increased input costs on the farm and well as higher food prices. Officials say these are consequences of recent upheavals in global commodity markets with the war in Ukraine and rising costs of food processing, transportation, and labor shortages. And the outlook isn’t expected to improve for the 2023 crop season, which will cut into farm profitability.
Click Here to read more.