Grocery staples from milk and eggs to produce have gotten more expensive in recent weeks. Milk prices are up 10%, year to date. Produce prices are up 10%. And egg prices are up 30%. That’s all according to research by Nielsen, reports CNBC.
In addition, Nielsen managing director Morgan Seybert said grocers have pulled back significantly on promotinal discounts.
“We’ve seen a huge reduction in the amount of promotions that retailers are running as they’re just trying to get the product and the supply that they need onto the shelf,” he said.
Just wait until restaurants are opened up with "social distancing."
Restaurant models weren't designed with "social distancing," this will mean the number of restaurant spaces is going to be cut by half, probably more since all won't reopen.
Less supply of sit down space means higher restaurant prices---and on top of this, of course, the mad Fed printing.
-RW
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