Posted on 10/18/2021 11:21:55 AM PDT by MNJohnnie
The owner of a New York City supermarket chain predicted the food prices will increase sharply in the coming months, with some increasing 10 percent in the next two months.
John Catsimatidis, the billionaire supermarket owner of Gristedes and D’Agostino Foods, warned that food giants such as Nabisco, PepsiCo, and Coca-Cola will prioritize raising prices on products.
“I see over 10 percent [price increase] in the next 60 days,” he said in an interview with Fox Business on Monday, adding that the trend will not drop “anytime soon.” Catsimatidis cited rising inflation and supply chain bottlenecks that are currently plaguing supermarkets and other retailers around the United States.
Catsimatidis then cautioned: “I see food prices going up tremendously” because food company CEOs “want to be ahead of the curve and the way they’re doing it is they’re dropping all promotions. They are dropping low-moving items.”
“Why give away something when you don’t have to give it away and you make more margin?” Catsimatidis asked. “So I think that now these companies are going to have record profits in the third quarter.”
Experts have said that a significant backlog of shipping containers is currently being processed at two major California ports is snarling delivery of food and other goods. Energy shortages in the Asia-Pacific and Europe, as well as COVID-19-related concerns, lockdowns, and vaccine mandates have also been blamed for the supply crunch.
Earlier this month, the White House announced that it was able to push Walmart, FedEx, and UPS into committing to adding more shifts to alleviate shipping issues. The Port of Los Angeles also committed to 24/7 shifts, the Biden administration also said.
Compared with one year ago, consumers are paying significantly more for goods and services, according to recent data released by the Department of Labor. It came as the agency reported that the consumer price index, a key inflation gauge that measures how much Americans pay for goods and services, rose approximately 0.4 percent in September, up 5.4 percent year-over-year.
For example, Americans are paying about 42 percent more on average for a gallon of gas than a year before, the data shows. They’re also paying 10.5 percent more for eggs, meat, poultry, and fish; 4 percent more for coffee; 19 percent more for bacon; 6 percent more for peanut butter; 27 percent more for propane, kerosene, and firewood; 5.2 percent more for electricity; 24.4 percent more for used vehicles; and 7.1 percent more for appliances.
“hanger steak, also known as butcher’s steak because butchers tended to keep it for themselves. Supposed to be tender and flavorful. “
Wonder if that’s chuck eye. Only a few of those from each side of beef and so that’s why don’t see them on the shelf. Very tender. Butchers take them home. Poor man’s ribeye.
“......the Communist and their leftist stooges must know what’s coming”.
The Stooges don’t have a clue. That’s why they’re called “Useful Idiots”.
Great Lakes Staple Seeds has a good selection of fall-planted grain, if anyone is interested in growing their own flour.
You have to ask your supermarket butcher to save these for you.
“Tender rib-eyes come from the sixth to twelfth ribs of a cow; butchers cut the chuck eye from the fifth rib. This proximity means the chuck eye steak shares many of the characteristics of a rib-eye. Although chuck eye steaks aren’t always available—there are just two per cow—they tend to be a budget-friendly cut of meat when you can find them.”
I’d guess they’ll only have one option left with Trump at some point in the future. Setting up Trump with some sham won’t fly again...It backfired...No one will buy it. They’ve tried everything but assassination.
Assasination = Martyr. They don’t want Trump to be a martyr....yet.
Cities are commie Democrat strong holds, starve them out and see if I care. They voted for this let them reap what they have sowed.
From my perspective, after criminally attempting to undermine, compromise and overthrow Trump, not to mention rigging the election, I’d guess Trump is already seen as a martyr in the eyes of many.
There are a lot of small farms here who raise just 20 head or so of beef cattle on a few acres, so it could be the way to go.
Mainly, I keep a can or 2 in the cabinet to use for when I haven’t properly planned ahead, so they are available to add to a recipe if desired. Or for a faster process, since they are fully cooked.
Walmart, Fed Ex and UPS committed to Bugout Biden that they would be moving an additional 3500 containers a week
That about 1/3 of 1 ship.
Catsimatidis asked. “So I think that now these companies are going to have record profits in the third quarter.”
They can only make record profits if we buy their unhealthy processed garbage.
Simply OJ is up over $7 in some places.
Milk and dairy is stable for now.
Veggies and fruits about the same.
Chicken,
Beef,
Pork,
Hot dogs ….
Ay Caramba!
Thanks, Nateman!
Anything is better than mean tweets
The hanger steak comes from the belly, hence the name, they hang there and don't do much. They're from the Plate behind the front legs. I has never heard of them until today.
I’m going to have to try those.
>>I literally do not buy any products made by these companies.<<
Lol...Good, more chips ahoy for me.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.