(AmericanProsperity.com) – Anyone who’s been to the supermarket to buy groceries recently has probably noticed the price of food is higher than it was even just a few weeks ago. Well, it isn’t imagination; food prices have been steadily increasing.
There’s no light at the end of the tunnel quite yet because food prices are likely to continue rising, as explained by food industry analyst Phil Lembert.
"We haven't seen anything yet": Food prices continue to climb https://t.co/Sl960RYkES
— CBS News (@CBSNews) October 6, 2021
In addition to being an analyst, Lembert is also an editor for SuperMarketGuru.com and believes the food prices will continue upward for at least a year and a half. He added that the most significant change people will see is in animal products such as beef, poultry, pork, dairy, and eggs.
When the Labor Department compared August 2021 prices to the same period in 2020, the figures were up by 8.3%, marking the greatest increase since the department started monitoring prices over ten years ago. Several contributing factors include the wildfires in Northern California, devastating livestock feed, labor shortages, and bottlenecks in Los Angeles ports. Lembert noted that the lack of truck drivers also plays a crucial part in the inflated prices, claiming refrigerated transport prices are up 10.4%.
The demand keeps growing, and the supply isn’t there. Lembert explains that retailers are only getting 50-70% of their orders. According to experts, consumers should look to other stores, such as private-owned grocers and dollar stores, to fill the gaps.
~Here’s to Your Prosperity!
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