Friday, July 1, 2022

Food Prices to Surge Amid Shortage in Supplies: ‘We Haven’t Seen Anything Yet’

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*As the nation enters the second pandemic holiday season, amid delays and stock shortages, Americans are facing a food shortage and a surge in food prices. 

“Everything just seems to be a dollar to two dollars higher,” said shopper Kathleen Postal, as reported by CBS News. “This creep has just happened and it’s very expensive.”

“We haven’t seen anything yet,” said SuperMarketGuru.Com editor and food industry analyst Phil Lembert. “Prices are going to continue to go up for a good year and a half.”

“The biggest increases we will see has to do with anything with animals,” he said, “Whether it’s eggs or milk or pork or beef.”

“Northern California wildfires have decimated their feed supply,” CBS writes.

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Here’s more from the outlet:

According to the Labor Department, wholesale prices jumped 8.3 percent from August of this year compared to August of 2020 — the biggest gain since the department started tracking those prices more than a decade ago. General supply chain issues like bottlenecks at the Port of Los Angeles and labor shortages are also to blame.

“We have a huge problem with a lack of truck drivers,” Lembert said. “Refrigerated transport is up about 10.4 percent in cost.”

As prices increase, supplies are decreasing.

“We’re just having a hard time finding the types of things we want,” Postal said.

Shoppers in Los Angeles are already noticing limited supplies of “milk, butter, soda, snacks, paper products and baking supplies,” per the report.

“Retailers who are filling out their orders to fill their shelves are not getting what they order,” Lembert said. “It’s estimated to be anywhere between 50 and 70 percent of what they order.”

Ny MaGee
Ny MaGee is an entertainment reporter with over 15 years of experience working in the film industry in areas including production and post-production, marketing, distribution, and acquisitions. She has worked for legendary film producer Roger Corman, Quentin Tarantino's production team at Miramax, the late Larry Flynt, MTV/ VH1, Hallmark Channel, Paramount, Jim Henson Co., Parade Magazine, and various LA-based companies representing above-the-line talent.

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