Americans are already noticing an impact on their wallet when it comes to staples such as gas and food thanks to the Biden administrations bull-headed policies that continue to spur inflation. Data that tracks the price of services and goods reveal that inflation is spiking at the highest levels seen since the 1990s.
Starting on September 5, retail consumers will see price increases from the meat giant Tyson Foods, and restaurants that use their products have already increased prices in many cases. Tyson Foods executives explain that they still can’t increase the price of their meats “fast enough to keep pace” with the volatile price increases for raw materials such as grain.
LATEST: Tyson Foods cut beef prices up to 30% after a recent price hike, according to the Dow Jones pic.twitter.com/jEpKyFieTK
— Bloomberg Quicktake (@Quicktake) May 13, 2020
Tyson has already increased the price of pork by 39% across the board, with beef experiencing an 11% rise and chicken jumping by 15%. The company says to expect more price increases in the future, meaning that they don’t buy Biden’s pitch that inflation is merely “transitory.”
Shake Shack plans to raise its prices 3%-3.5% at the end of the year, about a point higher than its typical price increase. $SHAK
— Heather Lalley (@flourgrrrl) August 5, 2021
Shake Shack is also passing along inflation costs to the consumer, with many items on the menu increasing by as much as 10% thanks to similar circumstances they share with Tyson Foods. McDonalds, too, was forced to raise prices by 6% greater than they had to in the previous year.
Chipotle as well increased prices across the board by 4% in order to compensate for their higher minimum wage policy, but executives have warned that the price may need to increase further in order to remain profitable as raw material inflation affects them as well.
CNBC: Companies from Chipotle to Whirlpool say are raising prices because of inflation
— Josh Caplan (@joshdcaplan) July 23, 2021
Domino’s pizza has also announced price hikes to offset inflation and the food giant PepsiCo’s chief financial officer declared rhetorically that “there is” inflation, and so will they be raising prices in response? “We certainly are.”
— Stephen Mitchell (@Mitchkew) July 13, 2021
P&G is adjusting shipping operations to save on #logistics costs, but still expects to take a $1.9 billion after-tax hit on higher freight and commodity costs this year. https://t.co/QdfelJudpc via @WSJ #supplychain #inflation
— Loren DeFilippo (@LorenDeFilippo) August 2, 2021
Food and dining aren’t the only industries affected by inflation prices, with Harvey Davidson having to raise prices by 2% for certain models, and paper product company Kimberly Clark raising prices as well. The game-makers, Mattel and Hasbro, need extra coin to remain profitable on their products.
Despite lies from Biden and Jen Psaki that the inflation is “transitory” and will pass in a season, these companies are clearly not taking the bait. Instead, they are prudently raising prices so that their businesses don’t collapse when lasting inflation sets in. Consequently, despite the Biden administration’s promises, Americans will see their dollar dwindle in value, bringing them less and less with every passing day.
BIDEN: Inflation is "expected" and "temporary." pic.twitter.com/vpHdRhcQmW
— Townhall.com (@townhallcom) July 19, 2021
Author: Alan Harvey