Written by Bernie Carr
Just a quick post today, as I share reports that have peaked my interest. We are already feeling the high prices at the grocery store, at the gas pump and everywhere we shop. Well, the pain of paying more is not going to let up anytime soon.
According to this report, American companies are expecting to test even more price increases as they seek to pass along higher costs of materials, transportation and wages to consumers.
Several brands said their planned price increases won’t be fully implemented in grocery stores until the second half of this year. Price increases by Hormel Foods Corp. for products including its Jennie-O ground turkey and Skippy peanut butter so far haven’t covered the company’s higher costs for peanuts, oil and plastic containers, among other inputs, the Austin, Minn., company said. It expects more price increases later this year.
Source: The Wall Street Journal
A billionaire CEO of a NY grocery chain, John Catsimatidis, warned that inflation will cause grocery prices to increase even higher by October:
Catsimatidis said that he expects a 10 to 14% spike in food prices by October first.
FOX Business’ Ashley Webster asked Catsimatidis if he is going to be forced to pass the extra costs onto consumers.
“You have to pass it on otherwise you’re not doing your duty to guard your country, your employees and your company,” he responded.
Source: FoxBusiness
Prepare now
The signs can’t get any clearer than that. Companies are already saying they will raise prices even more, with indications it will happen by October. You can start building a small stockpile now, and start buying things when they go on sale. Start perusing the grocery fliers that come in the mail as well as online and shop the marked down items. Time your purchases with their sales. If you have trouble remembering what prices are offered in each store, start a price book of your frequently bought items. More tips can be found here. This coming Monday, we will discuss how to build your own stockpile of goods.
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About the author:
Bernie Carr is the founder of Apartment Prepper. She has written several books including the best-selling Prepper’s Pocket Guide, Jake and Miller’s Big Adventure, The Penny-Pinching Prepper and How to Prepare for Most Emergencies on a $50 a Month Budget. Her work appears in sites such as the Allstate Blog and Clark.com, as well as print magazines such as Backwoods Survival Guide and Prepper Survival Guide. She has been featured in national publications such as Fox Business and Popular Mechanics. Learn more about Bernie here.
