Behind the Headlines: The Real Drivers of Food Prices | December 8, 2022
Energy, supply chain and other external factors, such as weather, are among a multitude of factors that continue to influence food price inflation. What does the future hold for food price inflation in 2023? Learn perspective from Andy Harig, vice president of tax, trade, sustainability, and policy development at FMI – The Food Industry Association, and Dr. Ricky Volpe, associate professor of agribusiness at Cal Poly San Luis Obispo as they take us behind the headlines.
You will learn:
- Historical perspective regarding food price inflation.
- Insights into the role that elevated and volatile energy costs play.
- How ongoing drought conditions are having an impact on food availability and food prices.
- How transportation issues continue to impact the price of food at the grocery store.
- Global factors that will have the biggest impact on food prices in 2023.
- Understand how inflation-resistant most food staples have been over the last 20 years.
- Ways that manufacturers and retailers are evolving and looking to address these supply chain issues now and in the future.
- Creative initiative retailers have employed to deal with food price inflation in this competitive environment.
- Bright spots for 2023 and beyond.
Dr. Ricky Volpe, Ph.D.
Cal Poly, San Luis Obispo, CA
Dr. Volpe was born and raised near Boston, Massachusetts. After finishing his Ph.D., he spent four years working as an economist at the USDA Economic Research Service in Washington DC. While there he researched a variety of topics, including food price formation, competitiveness in the food industry, and the healthiness of grocery purchases in the U.S. Ricky was also responsible for forecasting retail food price inflation at the national level.
Now at Cal Poly, Ricky teaches courses on food retail and supply chain management, transportation and logistics, and data analysis. He also maintains an active research agenda using a variety of large scanner data sets to study issues related to market structure, firm performance, food prices, consumers’ food choices, and health outcomes. He also works closely with industry leaders in food retailing, wholesaling, and distribution to facilitate collaboration on public-private partnerships, student internships, and scholarships.
Vice President of Tax, Trade, Sustainability & Policy Development
FMI - The Food Industry Association
Andrew S. Harig currently serves as Vice President, Tax, Trade, Sustainability & Policy Development. In this position, he is responsible for lobbying Congress and the Administration on behalf of FMI’s members, with a primary focus on sustainability, agriculture, taxes, trade and pensions.
Prior to joining FMI, Harig was an associate trade advisor and speechwriter for the Senate Finance Committee under its Chairman, Max Baucus (D-MT). From 1999-2001, he was the senior research associate for the Global Economic Policy Project at the New America Foundation, a Washington, DC-based think tank.
Harig holds a B.A. from the College of William and Mary and an M.A. from DePaul University in Chicago, IL.