Supermarkets Are Stockpiling Inventory as Food Costs Rise
Grocers are setting aside larger amounts of frozen meat, sugar, and other items to protect profits ahead of anticipated price increases
"after more than 100 suppliers notified SpartanNash that they would raise prices,"
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Grocery stores are buying and stockpiling at lower prices in anticipation of higher prices coming. This brings them a financial benefit. A year and a half ago when I spoke with people about this happening, they thought I was crazy. Now, what I have been saying is on our doorstep.
A friend who works at Sams Club reports an extra meat case has been added. Another friend who works in a grocery store says food is being stacked as high as they can get it. Walmart, Home Depot, and Sams Club have increased prices every time I go into the stores. Tracking prices is as easy as saving your receipts or using a receipt app* that allows you to view them which is the main reason I started using receipts apps. It's nice to get a few pennies for it too. You can also take a picture of shelf prices with your cell phone. *my referral link
What I am reading is 3-5% over the next month.
However, I've recently observed one item which jumped close to 260%. The item was .99 and it jumped to $2.56. That was in ONE price change. Other items have doubled in price or come close to it. The ground beef I use has increased 125%. The steaks I buy have doubled in price which is 200%. Another product I buy jumped from $1.12 to $2.12 or 189%. The can of soup I use to purchase for .98 is now 1.28 or a 130% price change.
Critical thinking: Why would one thing be told to us when the increases are definitely much higher than they are saying? How many people will believe what they read/hear vs taking the time to do the math? Do the masses tend to panic easily? What happens before a hurricane?
Dear Reader, I encourage you to invest in some of today's prices by buying food and the other everyday items you use. I was told prices are supposed to increase "in a way that more will feel it" around September/October. With this article, it looks like that timeline is very close to my sources' information.
My love to all! And, I do love you. You might not believe it, but I truly do. Look well to the ways of your household, and watch the Lord bless you!
She is clothed with strength and dignity, and she laughs without fear of the future. When she speaks, her words are wise, and she gives instructions with kindness. She carefully watches everything in her household and suffers nothing from laziness. Her children stand and bless her. Her husband praises her: “There are many virtuous and capable women in the world, but you surpass them all!” Charm is deceptive, and beauty does not last; but a woman who fears the LORD will be greatly praised. Reward her for all she has done. Let her deeds publicly declare her praise. Proverbs 31:25-31
