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    Food Costs Will SOAR! All Biden’s Fault

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    As firm leaders continue to pass on the high expenses of transportation, labor, and materials to buyers, the already excessive prices that American consumers pay for groceries are anticipated to rise much further.

    According to the Wall Street Journal, executives from corporations such as Kraft Heinz, Tyson Foods, and even McDonald’s have indicated that they will continue to hike prices in response to rising costs.

    Kraft, for instance, informed stores on Monday that it would increase prices on a variety of products in August, including Miracle Whip, Classico pasta sauce, Maxwell House coffee products, and certain deli meats.

    Cory Onell, the company’s chief sales officer, informed investors in a letter that the continual rise in costs necessitates price rises.

    And executives at McDonald’s and Tyson Foods say they will soon have to boost their prices even further due to high production expenses, which are exacerbated by the rising price of fuel.

    Russia’s prolonged invasion of Ukraine, one of the world’s greatest grain-producing regions, which is driving up the price of pantry staples, cooking oils, and livestock feed, as well as severe weather hitting key crop-producing corporations in Australia and India, is exacerbating the problem.

    The Labor Department announced on Friday that supermarket prices increased by 11.9% last month, while restaurant food costs increased by 7.4%.

    The statistic was reported by the Labor Department’s consumer price index, which increased 1 percent from the previous month to May, for a 12-month increase of 8.6 percent – surpassing the latest peak seen in March and reaching its highest level since December 1981.

    More on this story via Daily Mail:

    But production problems are only expected to continue, as factories remain short-staffed from the pandemic and farmers are getting a late planting start this year due to the cold and wet weather across the Midwest. Read more…

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