Inflation has become a huge concern in the United States. Yesterday we got an update as to how the situation is.
The Bureau of Labor Statistics pegged the Consumer Price Index (CPI) at 8.5%. American Farm Bureau?s Chief Economist Roger Cryan says this is the worst rate of inflation we have seen since the 80s.
When you say anything about inflation and the 80s, it generally causes nervous tics in those producers who lived through what was dubbed ?the farm crisis.? It is not a time that anybody would like to return to. Lessons were learned during that time, and that older generation is trying to impart those lessons to the younger generations now in charge.
Cryan talks about the impacts this could have on farmers and ranchers going forward.
Cryan says that all indicators are showing that inflation could continue for the next year or two.
