Food price inflation is driven by more than supply chain problems

Interesting perspective referencing rising food prices coupled with stable and steady consumption along with labor issues. Food price inflation was higher in 2021 than in any year since 2008.

The following article was posted by: Pat Westhoff with Columbia Daily Tribune.
Titled: Food price inflation is driven by more than supply chain problems
URL: https://www.columbiatribune.com/story/business/columns/2022/01/23/food-price-inflation-driven-more-than-supply-chain-problems/6562533001/
Date Posted: January 23, 2022 6:48 AM CT

The key take-aways from the article are as follows:

• Food price inflation was higher in 2021 than in any year since 2008.
• The December consumer price index (CPI) for food was up 6.3 percent from the same month in the previous year.
• Meat prices led the way, with beef prices up a remarkable 18.6 percent.
• Meat consumption per person was almost exactly the same in 2021 as it was in 2020. Beef and chicken consumption each increased a little, while pork and turkey consumption fell slightly.
• Labor costs and shortages have been an important factor as well
• Combination of much higher prices and flat consumption leads to inflationary values

This article correlates some to our previous article: U.S. Food Prices Are Up. Are the Food Corporations to Blame for Taking Advantage? 

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Compare different meat product costs against each other.

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