Rabobank: Food Inflation, Hottest Since 1978, Gives Consumers a Gut Check
Myriad macro forces—the Russia-Ukraine war, severe drought, higher wages and rising costs of farm inputs, transportation and energy—have combined to fuel broad-based inflation throughout the supply chain. Against this challenging backdrop, the consumer remains remarkably resilient.
The 2023 Rabobank BBQ Index, which measures the cost of staple ingredients for a 10-person barbecue, shows that it will cost $97 to host a cookout on Independence Day this year, up from $73 in 2018. Indeed, inflation has been running hot, particularly food prices, which...
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