Inflation warnings have been heeded by many conservative leaders stating that all the moves the Biden administration is making will lead to ridiculous inflation levels.
The Biden regime has not taken the warning seriously and is even continuing to make things worse, long before anything will get better.
Biden destroyed America’s oil independence, and this will also help to lead inflation to climb another few points by the end of the calendar year. An executive from Kroger, which is one of the biggest supermarket chains in America, stated that prices for pork, chicken, and beef can be expected to continue to rise and lead the way for price increases.
The problem is there are only up to five meat packing companies and they completely dominate the market. These meatpacker companies are raising the cost of products and raking in massive amounts of profit.
Gary Millerchip, CFO of Kroger, let reporters know that prices will be raised across the board to whatever makes the most sense. This means all products will go up in price. Many food suppliers may try old tricks, such as creating smaller packaging, to give the appearance of food price stability. The Biden Administration messed this up.
The Epoch Times reported,
Other than Kroger’s warning, food giant Nestle’s Chief Financial Officer, Francois-Xavier Roger, acknowledged a higher input cost inflation in 2022 than this year.
“If we talk of 2022, it is likely that input cost inflation will be higher next year than this year,” Roger said at a Barclays consumer staples conference, reported the Reuters news agency. “Our strategy is to offset anything we receive through pricing. The idea is to pass it on to the trade and to consumers whenever we receive it,” he said.
Earlier this year, CEO of supermarket chain Albertsons, Vivek Sankaran, said that regarding inflation, “It could go a little bit higher, but … we have a strong consumer” base in the United States.