FMI Briefing - Peering into Food Inflation's Black Box
Aug 10, 2022
This briefing discussed some of the lesser known or little understood causes, effects, and impacts of inflationary pressures on the price of food at the grocery store. FMI’s Vice President of Tax, Trade, and Sustainability Andy Harig was joined by Dr. Ricky Volpe, an Associate Professor of Agribusiness at Cal Poly who specializes in food retail and supply chain management, transportation and logistics, and food prices and data analysis.
During the presentation, Mr. Harig and Dr. Volpe discussed:
- How the rising cost and increasing volatility of fuel prices has caused food manufacturing and retail input costs to increase dramatically
- How a lack of critical workers and the inability to attract and retain employees impacts the supply chain and food costs
- How limited truck capacity and increases in transportation costs affect the price of food on store shelves