3 ms·
Nearly all inflation is tied to inflation in cost of energy. Food is especially related to energy cost, since the core cost of modern food creation is the cost
by tristor 4y ago
Nearly all inflation is tied to inflation in cost of energy. Food is especially related to energy cost, since the core cost of modern food creation is the cost of fertilizer and operating artificial growing environments (greenhouses, metered and pre-mixed feed waters). Energy is going up, so food is going up, this impacts Europe more than the US, because they operate in different energy markets. More generally, for almost all goods, the cost of transport went up, both because of the cost of energy, and because of challenges with logistics during the pandemic that have not fully subsided.
Energy costs are the primary driving factors for the cost of nearly all aspects of modern life.