Inflation has been a common topic lately. It seems like every other article I see references inflation and is usually tied to rising food prices. During last week’s Protecting Your Profits webinar, Sam Miller, Managing Director of Agriculture Banking at BMO Harris Bank, talked about what is currently driving inflation and how that is affecting the dairy industry and agriculture in its entirety.
Miller defines inflation as “too much cash chasing too few goods.” In other words, something has caused the demand of multiple products to outpace the aggregate supply of those products causing a ripple effect that ultimately increases the cost of living. Read More