Proverbs 6:6-8 – “Go to the ant, thou sluggard; consider her ways, and be wise”
Could We Experience Food Shortages
Shortages are popping up across the supply chain as the virus messes with shipping, demand, supply and all the other levers of the global economy.
A nationwide food shortage is threatening your dinner table and your bank account. The fried chicken wars are putting a strain on the poultry population.
Even SNAP food assistance program is falling short.
Major food chains are “paying steep prices” for chicken and suppliers are having trouble keeping up demand.
The global dimensions of food instability are staggering.
In the months ahead, shoppers can expect to start forking over more money at grocery stores.
Why cost increase
In many ways, it’s a simple supply/demand problem. There are signs that rising prices could linger for months or even years.
Prices aren’t expected to go down until late next year or early 2023.
Grocery prices are up 3.5 percent over last year. The normal annual increase of 1 percent to 1.5 percent.
The level of food price inflation varies, did you eat out or buy from a grocery store?
The whole supply chain is increasing and nobody wants to absorb that cost. Fresh fruit prices increased 2.8 percent from March to April 2021.
For a family of four, that could be as much as $500 more per year.
Cheerios maker General Mills, announced it’s raising prices to offset freight manufacturing and commodity prices.
High feed costs, increased demand, and changes in the supply chain have driven up prices for wholesale meats and poultry.
Whenever food shortages arrive, the cost of meat, dairy, eggs and bread skyrocket.
Keep cost down
There are ways to keep shopping costs low. Stock up on basic foods that you normally eat.
Buy groceries when they are on sale in bulk.
Canola oil is the cheapest oil on the market. Thus, you save money buying it.
Buy storable food that has high nutritional value. Set a budget and stay on it.
Consider buying store brands versus big box brands. Take 2021 very seriously while there is still time.
DISCLAIMER: I am not a financial adviser. This site is for educational purposes only. It is imperative that you do your own research. I am sharing my opinion from personal research and experience with no guarantee of gains or losses on investments, finance etc.
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