Grocery Prices Could Rise 10 to 14 Percent By October, Grocery Chain CEO Warns
Posted by freedomforall 3 years, 5 months ago to Politics
Excerpt:
"The latest June data already show price inflation at a 13-year high, with prices having risen 5.4 percent year-over-year. Proponents of the big-government policies driving much of this increase insist the uptick in prices is only temporary. But billionaire and grocery chain CEO John Catsimatidis just predicted that overall price inflation, for consumer goods generally, will hit a 6 percent annualized rate by October.
In an interview with Fox Business, the CEO warned that his industry is seeing skyrocketing costs on the supply chain side, and that businesses will have to raise prices for consumers as a result.
“Food prices are getting higher, and we expect even more increases by October,” Catsimatidis said. “You have to pass [those extra costs] on [to consumers] or you’re not doing your duty to God, your country, your employees, and your company.”
While we can’t know for certain, Catsimatidis said rising costs could mean an astounding 10 to 14 percent specific increase in grocery prices by October.
...
Americans should react to a 6 percent rise in consumer prices just as vociferously as they would react to having their salary cut. It’s essentially the same thing.
And, consumer price inflation can ultimately be traced back to the policy decisions made by the federal government. So, don’t let them off the hook when your grocery bills start to spiral upwards. Remember whose fault it really is. "
"The latest June data already show price inflation at a 13-year high, with prices having risen 5.4 percent year-over-year. Proponents of the big-government policies driving much of this increase insist the uptick in prices is only temporary. But billionaire and grocery chain CEO John Catsimatidis just predicted that overall price inflation, for consumer goods generally, will hit a 6 percent annualized rate by October.
In an interview with Fox Business, the CEO warned that his industry is seeing skyrocketing costs on the supply chain side, and that businesses will have to raise prices for consumers as a result.
“Food prices are getting higher, and we expect even more increases by October,” Catsimatidis said. “You have to pass [those extra costs] on [to consumers] or you’re not doing your duty to God, your country, your employees, and your company.”
While we can’t know for certain, Catsimatidis said rising costs could mean an astounding 10 to 14 percent specific increase in grocery prices by October.
...
Americans should react to a 6 percent rise in consumer prices just as vociferously as they would react to having their salary cut. It’s essentially the same thing.
And, consumer price inflation can ultimately be traced back to the policy decisions made by the federal government. So, don’t let them off the hook when your grocery bills start to spiral upwards. Remember whose fault it really is. "
They are former government stooges with government pensions and complete flaming leftists. I will confess that seeing their fixed income arses in the Hurt Locker, would put a contented smile on my face.
The Dems have their followers believing in the climate change 'boogey person' to waste another $50 trillion.
We should have had a colony on Mars by now, imo.
Seriously, there were solid plans for a Mars mission over 20 years ago using existing tech. It's tragic that the fedgov and the complicit banking cartel and military industrial complex have thrown away both the assets our ancestors created and the cold war dividend on illegitimate foreign and domestic wars.
COVID May already be the answer. I wouldn’t be surprised if some “report” comes out that the virus was developed in a lab. And it’s primary target was People of Color. And the Chinese Government is responsible. Demonizing China like that would have all the SJWs lining up to be Cannon Fodder to “Save the World”. It would take something THAT extreme to motivate the duped masses.
Oh, but they will cheer any black or brown warriors who want to prove their value as comrades - as long as it doesn't lower share prices.