HARLINGEN, Texas (ValleyCentral) — With the challenges of the COVID-19 pandemic, high gas prices and inflation, it can be a challenge for many families across the Valley to put food on the table.
One non-profit is stepping in to help by donating funds to the food bank of the Rio Grande Valley.
The Rotary Club of Edinburg donated $5,000 which will help provide 25,000 meals to those who are in need.
Fighting inflation prices can be tough and there are many factors which lead into high rates.
“This will definitely put food on many family’s tables that are not able to go out and get this food on their own,” Michael Tamez, Edinburg Rotary Club President said.
Tamez says the $5,000 donation will help put many meals on the table for those who are in need across the valley.
“It goes for, veterans, senior citizens, anyone that’s not able to get that food put on the table. The RGV food bank does that for them,” Tamez said.
Several challenges like inflation can create hardships for those who need a meal.
“Inflation hurts a lot of people particularly those on fixed incomes and those whose incomes are rising more slowly than inflation,” Dr. Gautam Hazarika, Economics Dep. Chair with UTRGV said.
Economic experts with UTRGV say a huge factor leading to inflation is companies raising their prices with market power for profit.
Too much demand from consumers gains little supply and shortages causing rates to increase.
“The pandemic for instance caused all kinds of supply chain problems now that means essentially raw materials are now less easily available to businesses, businesses need raw materials to produce their goods,” Hazarika said.
Economic professionals also say inflation is typically not a chronic condition.
“Yes, it’s going to hurt people for awhile but again looking at U.S. economic history periods of inflation don’t last too long eventually we will come out of this that’s the sense economist have,” Hazarika said.
Leaders with the Food Bank of the Rio Grande Valley say every dollar they receive provides 5 meals for people who are in need.