Posted on 02/10/2022 3:19:25 PM PST by Kartographer
They blamed COVID-related supply issues, as well as high labor costs and rising expenses for fertilizer and other farming necessities. Goldman’s forecast is the latest gut punch for U.S. consumers grappling with rising costs for practically everything, from rent to food.
It also serves as a shot across the bow of election-minded politicians who already know inflation will be perhaps the single biggest issue going into the November midterms.
For working families, another 6% increase in grocery prices would make it even harder to get ahead. Since the start of the pandemic, food costs have jumped by about 11%. Wages over the same period have declined by 1.2%.
Not everybody.
Most people in the US are paid by the hour.
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