SCOTT COUNTY, Ky. (LEX 18) — Inflation has impacted so many different industries, including the food industry. Some families share their grocery bills have sky-rocketed -- some as high as $500 every two weeks.
One Georgetown family farm is looking to help families cut that cost.
Director of the Center for Business and Economics at the University of Kentucky, Dr. Michael Clark, explains how inflation impacts industries.
“When we're talking about inflation, what we're talking about is how are prices going up against that broad basket of goods and services that households typically purchase."
From February 2021 to February 2022, the consumer price index shows that "At Home Food Cost" rose 8.6%. Among the highest rises are meats, which rose 13% and produce 7.6%. And it's not just groceries. "Food Away from Home" rose 6.8%.
"We kinda got used to this fairly predictable, relatively low, stable rate of inflation. What we're seeing right now is, over the past year, is that prices have been increasing at a much more rapid pace,” says Dr. Clark.
As food costs continue to rise, one farm's owners are sowing seeds early to make sure that their community has a more affordable option.
"We're seeing the bare shelves at the groceries, we're seeing the produce that isn't up to par at the groceries," says Home Grown Direct co-owner Megan Sharpe. "That's definitely a matter that we're gonna take into our own hands."
Home Grown Direct is family-owned and works with other farms in the area to provide families with a variety of fresh food boxes that range in price depending on family size from $25 to $45 a week. Sharpe says farmers have felt the cost of inflation -- from fuel to fertilizer.
"We're gonna make sure that our community is able to afford produce," says Sharpe. "So, we've got set prices for the season and that's the price that you're gonna get."
When you go to the grocery stores and the costs are high or the products aren't there, Sharpe says, "You've got farmers that have fields that are full of produce, they're full of animals that are being prepped for food on your plate and just making sure that the plan is there. So, right now, that's what we're doing to try and tackle inflation is building a plan and all of us are building a plan together."