Prices for food are soaring as shelves are emptying across the country. The consumer price index continues to climb, but it’s reached a point where most people have seen and felt the prices in their wallets now.
Americans continue to face higher costs, reflected in sharp annual increases in the consumer price index going back to April. The July reading matched the year-over-year inflation rate of 5.4% in June, the largest annual jump since 2008, according to a report by Yahoo News.
Considerable increases in meat prices account for about half of the overall increase in grocery prices, according to a report from the White House’s National Economic Council. Since December 2020, prices for beef have risen by 14%, pork by 12.1%, and poultry by 6.6%.
Fruits and vegetables are also up by 4.4%, cereals and bakery goods are up 4.3%, and dairy and related products are up 6.3% as of July compared to a year earlier. –Yahoo News
This is by design. We all know that the creation of fiat currency (the United States dollar) will result in inflation. More dollars are now chasing fewer goods while the wealthiest got even wealthier in the aftermath of the government’s COVID-19 response. Hopefully, we have all been able to see that this was coming over a year ago. If not, get extra food items now because they will never be cheaper, and may never be on the shelves again!
Some grocers say they are having to raise prices daily and that certain meats such as chicken should be priced even higher than it already is.
And, to make matters even worse, there is no relief in sight. The U.S. Labor Department said inflation at the wholesale level climbed 8.3% last month from August 2020, the biggest annual gain since it started calculating the number in 2010, according to Yahoo News. Also, the Bureau of Labor Statistics reported an additional overall food price increase of 0.4% in August compared to July, after larger increases in recent months.
The supply chains have been all but destroyed which isn’t helping. Some stores can’t even get deliveries and when they do, they are not complete. This is leading to empty sections in most stores across the country.
Stay prepared and continue to take notice of what’s going on in your area.
Make sure you stay on top of this. If food becomes so pricey people can’t eat, we are going to see unimaginable chaos. Refuse to live in fear, trust your preps, and keep trying to do better. That’s the only thing we can do right now.