ROCHESTER, N.Y. (WROC) — It’s a global problem being felt in everyone’s pocketbook here at home: inflation, with some experts saying it doesn’t show any signs of letting up.

George Conboy with Brighton Securities said big food companies, like General Mills, are predicting food prices will be up over 10% for 2022. Conboy explained some outside factors that come into that.

“One of the biggest components of inflation in food prices is energy costs,” he said.

From the fuel for the tractors in the fields — to the fertilizer — to the trucks on the road. “There’s a lot of energy input in food prices. And with energy prices way up, food prices will follow,” said Conboy.

Also, wages have risen as the nation has emerged from the pandemic. “Nearly all employers including farmers are paying more for labor,” he said.

From the dinner table to the dining table, Nick Nucchi of ‘Nucci’s Italian’ in Webster said he’s had to hike up menu prices. “I had to increase them by a good 10%. 10% to 15%,” he said

Customers haven’t complained yet, and Nucci said if inflation fixes itself, he’ll bring prices back to normal. It all depends on where they get their food, beer, and liquor from. 

“…If they bring their prices down, yes,” he said.

Conboy said, currently, we have too much money chasing too few goods, nationally. The price of just about everything is up. The pandemic managed to disrupt much of our supply output as people stayed home and manufacturing shut down, according to Conboy.

“It’s a problem that will no doubt work itself out,” Conboy said. “The question is how long will it take? I can assure you, this is a problem that’s not going away in the next handful of months.”

Conboy does predict we will likely be in a recession in the second half of this year, but with a strong labor market, he does not think it will be that serious.