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How much higher can food prices go? An expert tells us what to expect

Last week, the U.S. Labor Department said that its consumer price index jumped 8.5% in March from a year earlier — the sharpest year-over-year increase since 1981.

Today, a dollar does not go as far as it used to, especially at the grocery store. Food prices continue to rise along with the cost of gas.

Meredith Wilson, founder and CEO of Emergent Risk International, tells WTOP that the rise in prices might not stop anytime soon.

“The current problem is that the drivers of high food prices right now are not going away,” said Wilson. She defined those drivers as shortages of fertilizer, and certain foodstuffs like wheat and sunflower oil.

“It’s a seemingly intractable problem right now, because there isn’t a short-term solution on the horizon,” Wilson says.

She highlights the global supply chain issues as another factor driving up food prices. Wilson said Americans will probably not see an immediate decrease in prices.

“Although, we will start to see governments trying to find ways to push those prices down, because as you might imagine, it’s very politically unpalatable to have high food prices for any length of time,” Wilson finished.

Wilson said the rising food prices is likely to cause an increase in unrest.

“There’s always, always going to be a link between unrest and food prices, and not only in developing countries, although that’s where we see it most frequently, because that’s where you have so many people on the edge of falling into poverty. But right now, for example, Pakistan just ousted their prime minister, primarily over mismanagement of the economy,” said Wilson.

She also predicts the increase in prices will sway voters.

“We’ll also probably see changed electoral outcomes in the next couple of months, potentially in the U.S. as people shift their votes as they don’t see improvement under the current government,” Wilson said.

KFC founder Colonel Sanders’ signature bow tie and personal planner sell at auction

SHELBYVILLE, Ky. (AP) — KFC founder Colonel Sanders ' signature black bow tie, original cash register and dozens of other personal items sold Tuesday night in a public auction, while his former home and another restaurant he owned were up for auction later in the week. With his distinctive wardrobe and goatee, Harland Sanders built global brand recognition for the chain originally known as Kentucky Fried Chicken. He has remained the widely recognized face of the worldwide chain after his death in 1980. “Colonel Sanders was the original celebrity chef,” said Bill Menish, whose firm, The Menish Group, is conducting the auction. “The feedback has been worldwide, so we needed to have an auction that would cater to that worldwide audience.” The largest sale of the night was $30,000 for Sanders' personal 1964 planner with a handwritten list of herbs and spices that was the subject of an early 2000s lawsuit filed by the KFC Corp. to keep the contents private. KFC later dropped the legal action, saying after reviewing the planner the ingredients didn’t match Sanders’ secret blend of 11 herbs and spices and was likely for a stuffing recipe.
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