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Inflation & Prices

For US Farmers, Inflation May Be Here to Stay

“I do not see our prices coming down anytime soon,” Illinois Farm Bureau Vice President Brian Duncan says.

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Photographer: Daniel Acker/Bloomberg

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Rising food prices have been one of the big drivers of inflation this year as farmers across America were hit with price spikes for fertilizer and fuel. They’ve also been forced to grapple with lingering supply-chain issues and labor shortages. Brian Duncan, operator of a family farm and vice president of the Illinois Farm Bureau, joins this week’s episode of “What Goes Up” to talk about the agricultural commodities markets and offer his perspective on the US economy as he plans for next year’s crops.

“I do not see our prices coming down anytime soon,” he says. “Remember how base-fossil fuel dependent agriculture is, both on the fuel side and on the fertilizer side. I don’t see a solution.”