Nah, inflation isn’t happening. After all Sleepy Joe told us our 4th of July cookout cost us $0.16 less than last year. Sure, he ignored the 8% increase in cost over 2 years ago because it was inconvenient. The nation’s supermarkets also must not be living in reality. They are stocking up at current prices to protect their profits from inflationary pressures.
When prices start rising, food sellers often purchase more inventory than they need to protect their profit. Price changes have been minor in recent years, executives said, generally involving a pool of specific products. The current price increases are bigger and are playing out more broadly across supermarket aisles, executives said.
General Mills Inc., Campbell Soup Co. , and J.M. Smucker Co. are among food makers raising prices to compensate for higher costs. Meat and produce prices have been climbing, too, with retailers anticipating more increases through the rest of the year.
Wall Street Journal
They don’t know what they hell they’re talking about.
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