3 years ago

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TOPICS AND TIMESTAMPS:
It’s On 0:00
Deflation Tsunami 0:19
Inflation Spiral 5:53
China Taiwan USA 9:21

It is the age-old problem of supply and demand, and it is a struggle for food pantries and cupboards in Rochester to keep shelves stocked.

Donations are down and economic factors like inflation and the increase in gas prices have left many families in need.

13 WHAM spoke with Mitch Gruber, Chief Partnership Officer of Rochester's local food pantry, Food Link, and he talks about their concerns with the high demand.

Across town the community food cupboard of Rochester says they feed up to 500 households a month and they say the numbers are continuing to rise and because of the rise they are running out of pantry items like eggs, milk, and peanut butter.

“It is certainly a little bit more difficult for us to keep the shelves as stocked as we like to have them. It's a challenge with certain products like right now,” says employee Anna Lisa Mccann.

Food Link has distributed over 20 million pounds of food this past year. With the growing demand, they tell us they need help beyond the local community.

“The one thing that we need to make sure that we're doing is advocating to the federal government, to the state government, to make sure they are continuing to pour resources into the emergency food network,” says Gruber.

Mortgage demand drops to a 22-year low as higher interest rates and inflation crush homebuyers
Surging inflation and interest rates are hammering American consumers and weighing on the housing market.
Mortgage demand fell last week, hitting the lowest point since 2000, according to the Mortgage Bankers Association.
Buyers have lost considerable purchasing power as rates have almost doubled since earlier this year.
The pain in the mortgage market is only getting worse as higher interest rates and inflation hammer American consumers.
Mortgage demand fell more than 6% last week compared with the previous week, hitting the lowest level since 2000, according to the Mortgage Bankers Association’s seasonally adjusted index.
Applications for a mortgage to purchase a home dropped 7% for the week and were 19% lower than the same week in 2021. Buyers have been contending with high prices all year, but with rates almost double what they were in January, they’ve lost considerable purchasing power.

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The Money GPS is the most active, most informative channel in the financial world. Day after day, breaking down the data and making it easy to understand. This channel is not here to help build a portfolio, give stock picks, or financial advice. It's simply data that is generally not found through conventional means.
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