Quote:
Originally Posted by Truenorth00
Sure. But chocolate is just one commodity. Bit by bit, this is how inflation ticks up. Also, this is by no means the end of these increases. The more climate sensitive, the more volatile. At least we've moved on from saying this kind of volatility can't happen. That's progress I guess.
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The vast majority of the things we buy are mostly markup from intermediaries, so changes in the international commodity prices are a rounding error that is unlikely to cause inflation. It is more likely to cause an impact in developing countries where food has fewer intermediaries and people spend a huge portion of their income on a limited number of foods (thinking of bread in the Middle East, for example).