The rapid rise in inflation is hurting families across Texas. "With inflation rates at their highest point in forty years, North Texans are spending $325 more each month on food today than they did this time last year, said Jeff Smith from North Texas Food Bank. "Nearly 700,000 North Texans are unsure of where their next meal will come from."
During an email conversation, Jeff also said 250,000+ children in North Texas are food insecure. "The holiday season can be especially difficult for those who are already struggling to make ends meet each month. With inflated food, gas, and housing costs, our neighbors in every zip code are facing increasingly difficult choices every day - deciding whether to purchase groceries or pay for other necessities such as gas, medicine, housing, or utilities."
The CEO of Feeding America, Claire Babineaux-Fontenot, discussed the challenges of inflation during an interview with Marketplace. "Things are still tough, she said. "There are tens of millions of people who continue to turn to the charitable food system for help."
According to Forbes, some companies are using inflation as an excuse to raise prices. "About half of price inflation is due to real world factors, like avian flu (eggs, poultry), weather (potatoes and fresh produce) and supply chain fragility (pretty much everywhere). But over 54% of inflation is due to windfall profits, from food companies to fertilizer cartels to the railroad sector. All in, corporate profits hit a record $2 trillion in Q3 2022, right about the same time that the CPI hit record highs. That is not a coincidence."
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Authors note: You can visit the website of North Texas Food Bank for information regarding how to donate or volunteer at a local food bank.
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