Why Are Grocery Prices High? The Story Behind Inflation and Supply Chains
In this episode of “This Is Purdue,” we’re talking to Trey Malone, the Boehlje Chair in Managerial Economics for Agribusiness and associate professor of agricultural economics at Purdue University. Trey is an award-winning and nationally recognized agricultural economist. His timely insights on food-system trends have been featured in major outlets like The New York Times, USA Today, Time and CNBC. Before joining Purdue’s Department of Agricultural Economics, he held faculty positions at the University of Arkansas and Michigan State University. Today, Trey is breaking down topics that regularly grab headlines, especially during this holiday season: the rise in grocery prices and the overall state of the U.S. food system. In this episode, you will: Learn more about the realities behind the U.S. food supply chain, including how multiple factors like inflation and price volatility can impact the price of cooking and meal staples like eggs. Hear more about how the salience (or importance) and familiarity of food in our everyday lives fuel common misunderstandings and fears around our food system. Discover more about the long-term effects of the COVID-19 pandemic on the price volatility of food and household staples like toilet paper — and why the U.S. food system is more resilient than we think. Find out how social media influencers and viral trends impact the food supply chain and how agricultural economists at Purdue use social listening data to predict future trends. Get insights into the current state and future of our food system, from the popularity of food delivery apps like Instacart and how they’re changing consumer decision-making to why agricultural economists like Trey are focused on food affordability and nutrition across income categories. Hear more about Trey’s upbringing and journey to Purdue, from his early years working at his family’s 1,400-acre cattle ranch in Oklahoma to gaining a PhD in agricultural economics from Oklahoma State University — and how this background motivates him to help farms and businesses thrive. Learn more about how Trey is preparing Boilermakers to lead and innovate in agricultural economics and how he’s creating opportunities for them to help farmers and agribusiness make key decisions. Tune in for tangible tips on how consumers can navigate rising grocery bills and save money this Thanksgiving — including avoiding impulse buys and finding deals at major retailers like Walmart and Aldi. You don’t want to miss this episode with a Purdue professor and agricultural economist who’s expanding the way we think about our food — and the people who grow it. Learn more about your ad choices. Visit megaphone.fm/adchoices
