Hurting From Inflation? This Is Only The Beginning…

Despite Democrat President Joe Biden’s false assurances, inflationary pressure is definitely here to stay as the administration glimpses forward into the second year of their term.

However much Biden may desperately needs the economy to improve to secure Democrat seats in 2022, Americans still wish so more fervently. After facing expensive Thanksgiving and Christmas holidays, Americans are likely to reflect fondly on the holidays of 2021 given how bad price increases are expected to become in future years.

The Wall Street Journal recently announced that every consumer good “from coffee to mustard” will be increasing in price in the coming year as manufacturers and producers shrug off the costs of permanent inflation onto consumers.

How much should consumers expect prices to rise by? According to the WSJ report, food will shoot up by 5% across the board just in the first half of next year, though of course, actual increases will vary based on region.

The Consumer and Producer Price Index used by the government to track inflation, has had constant year-over-year highs since the beginning of the pandemic, and aren’t going to see any stoppage so long as Biden fails to act to arrest its trajectory.

According to a memo from Mondelez International Inc., the parent organization behind brands such as Ritz, Oreo, Sour Patch Kids, Philadelphia Cream Cheese, etc., prices will increase between “6% to 7% starting in January.” Kraft Heinz Co. also announced that prices would be increased by as much as 20% in the coming year.

Unsurprisingly, Biden’s failures are contributing to inflation from more angle than one, as his Transportation Secretary went on leave the moment that the supply chain crisis unraveled at U.S. ports which have become slogging parking lots for ships carrying billions of dollars in cargo. The months-long delays have increased the cost of bringing goods to market, as well as worsening scarcity, leaving consumers with further increased prices.

Biden is in desperate need of a plan to get inflation managed, but much like the other crisis’ that have erupted during his term, his solution is to deny that any problem exists in the first place.

Author: Randy Jenkins