Beef is up 5.5% this year. Sugar and sweets are up 6.7%. Coffee prices are climbing fast enough that your morning cup costs noticeably more than it did in January. The USDA projects food prices will rise 3.1% in 2026. Gas just hit $3.70 a gallon, up from roughly $3 before the Iran strikes.
Everyone is watching oil. They should be watching fertilizer. “Drill baby drill” was the right call on energy, and it’s the reason America isn’t reliving the 1970s. Now apply the same supply-side logic to the next link in the chain, because the Federal Reserve can’t fix a broken supply line with rate cuts.
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