High Inflation Continues To Impact Sector, Including Food Banks
As inflationary pressures keep year-over-year price increases high, food banks see both an increase in demand and a shortage of supply. Food pantries across the country are dealing both with an increase in demand due to broader consumer-facing prices, as well as a harder time keeping up with supply because of the same price increases. The Chronicle of Philanthropy reports that “Some of Feeding America’s food pantry partners have closed because of dwindling donations and higher costs for receiving and delivering food. Others have less food on their shelves even though they have higher demand.” The article goes on to highlight the vital importance that food banks serve and that folks who need the assistance they provide might be more diverse than the broader public realizes.
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[00:00:00] This week on the nonprofit newsfeed, we’re talking about high inflation and how it’s having impacts on food banks, as well as a bevy of other social impact issues. Nick, how is.
[00:00:12] It’s going good, George.
[00:00:13] it’s just trying to, always just trying to keep up last week was a little weird from the financial side. I’m glad we’re not a financial podcast, but a few things went sideways and you know, I think that comes back to the larger issue of inflation going on.
[00:00:27] That is. Great segue into our first story that is talking about some of those broader trends, economic trends that you were talking about. Namely inflation and our lead story comes from the Chronicle philanthropy, which is supporting that hi Felician is continuing to impact many nonprofits, but food banks in particular.
[00:00:50] And it turns out that many food banks across the United States are being. From both directions, essentially, you have more people needing food assistance because of higher food prices and food banks, having trouble keeping up with that higher demand because of higher food and supply chain issues. So.
[00:01:14] Yeah, lots of food banks are feeling the pinch, both with supply and demand, kind of impacting their ability to, to provide for, for folks. The article goes on to state that some of feeding America’s food pantry partners have closed because of dwindling donations and higher costs for receiving and delivering food.
[00:01:34] Others have less food on their shelves, even though they have higher demand. So you kind of have the economics of this. Hitting where Hertz in both directions. And unfortunately the inflation numbers came out and it slowed marginally with the most recent data. But inflation continues to be a really serious problem heading in this case, food pantries, where it hurts.
[00:01:56] I think it’s important to note that the general consumer price index CPI is it’s not accurate for everyone. It is not inclusive of what might be hitting. Some people that are maybe more dependent on travel by car or at the grocery store for different types of materials. But the high-level here.
[00:02:19] Compared to last year at this time, we’re about 50% down and where we have received and past feral food donations, and about 20% down from food drives in our collection of food from the grocery store,
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