Economics/Class Relations

Food price inflation is on the horizon

By Ron Sterk, Food Business News

KANSAS CITY — With major grain, oilseed and edible oils prices at or near eight-year highs, crude oil prices six times the year-ago level, freight rates soaring and prices for materials (cardboard and aluminum, for example) and other input costs rising, can food price inflation be far behind? Not according to the US Department of Agriculture or many food manufacturing companies. If the expected post-pandemic demand surge develops, as many expect, price increases may be greater later this year and into 2022.

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