Inflation affects the price if everything from the fertilizer, fuel and fencing required to produce food (say, wheat) to the bread we buy at the end of the chain and everything in between. It's going to be a massive problem in the near future when things start running out; third world countries will be the worst affected. It's a big problem and goes deeper than bad eggs and toast that requires a chainsaw to cut. Many will suffer.
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I absolutely agree with you on this. It doesn't bode well for the future especially underdeveloped or developing countries with struggling economies. It's scary because it doesn't look like things are getting any easier.
Things will get tough for many, especially in first-world/developed countries where they're not used to such hardships.
It's getting scary and real as the day goes by.