Grocery prices are headed higher later this year, according the U.S.’s largest supermarket by sales.
Cincinnati-based Kroger Co., which had $132 billion in sales last year, says inflation is running hotter than management previously anticipated and that expectations are now for prices to rise 2% to 3% over the second half of this year.
Kroger is “passing along higher cost to the customer where it makes sense to do so,” said CFO Gary Millerchip on the company’s second-quarter earnings call on Friday.
Management at Kroger rival Albertsons Companies Inc. earlier this summer expressed similar concerns that inflation would pick up in the second half of the year and that they too would pass some of those increased costs along to consumers.
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Biden’s crap economy equals shortages and higher prices for everything. This is what socialism/communism looks and feels like. The longer the Democommies are in control the worse the economy will be.
Need to fix supply chain system, Urban Farms,
More local farms, nationwide
He who keeps eyes open will notice several trends: not only the astronomical price of meat, but the downsizing of condiments like soy sauce. The price is about the same, but then you notice the bottle has shrunk by about 3-4 ounces. You look for a certain item and there is a gaping hole on the shelf where that item used to be.
Some Russians visited us back in 1993 and they went wild, buying up creature comforts that we all took for granted, like shower curtains. Russians had to stand in line for hours to get many commodities. This is how SOCIALISM works. It accelerated here when the Government in its infinite wisdom started handing out stimulus checks. And companies could no longer find workers willing to work. Indeed, who wants to work when Big Brother pays you NOT to work?