Farm Progress America, February 2, 2023 (Farm Progress)
- Impact Area
Max Armstrong’s Farm Progress America is a daily podcast that looks at key issues in agriculture. It is produced and presented by Max Armstrong, veteran farm broadcaster and host of This Week in Agribusiness. In this episode, Max Armstrong reports that as the U.S. economy slows inflation will fall as well. Armstrong summarized comments from two economists including Joseph Glauber, a senior research fellow at the International Food Policy Research Institute. Armstrong quotes Glauber, who said, “Despite rising commodity labor and energy costs, the farm value of retail food prices has remained low. The post-farmgate costs really impact food inflation and what it means for hunger. Hunger has been on the rise even before COVID-19 and the conflict in Ukraine. As the hunger crisis continues into 2023, there will likely be a rise in the costs of staples, which will cause a shift to other products. Consumers will spend less on nutrient-rich foods, etc.
Glauber added there is an inequality in consumers’ ability to cope financially with food crises.