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by appreciatorBus 341 days ago
So food will be more expensive?
2 comments

More expensive relative to what? In nominal terms, everything gets more expensive because of inflation eventually.
Relative to goods with elastic demand, food prices will rise faster because we have to eat. Food prices are also sensitive to its input prices, which also have inelastic demand.
Labor is a tiny fraction of the cost of food. Last time I did the math only 1% of the cost of flour goes towards a farmer's labor.