US political site ‘The Hill’ report:

• As soon as next week, 115,000 freight rail workers could walk out if they cannot reach a new contract with railroads
• potentially shutting down the national rail network that transports 20 percent of all grain shipments.
• Even a short-lived interruption “would create a devastating ripple effect” on the nation’s fragile supply chains, said Lee Sanders, senior vice president of government relations and public affairs at the American Bakers Association.
• Freight railroads also carry roughly half of fertilizer, and farmers can’t afford delays … “If farmers do not receive fertilizer, it results in lower crop yields, higher food prices, and more inflation for consumers

There is plenty more here, link.

—

Food prices are not ‘core’ inflation, but I think it myopic to disregard food prices soaring. And, if anyone from the Federal Reserve is reading, no, we can’t just eat cake.