And what’s more, prices are not expected to drop anytime soon because this administration is simply not competent.
The Epoch Times reports that due to ever-rising costs on small to mid-sized farms, food prices are set to skyrocket at least through 2022 and likely beyond, meaning wage gains that Americans experienced throughout the Trump administration are quickly dissipating as they pay more at the grocery store, the gas pump and in monthly energy and clothing expenses.
The outlet adds:
Fertilizer prices have risen during the past year, with several retail price tags going up by more than 100 percent, according to DTN, a Minnesota-based company that provides real-time weather, agricultural, energy, and commodity market information.
More than half of America’s large farmers are anticipating prices for inputs such as fertilizer and fuel to go up by more than 12 percent in 2022, according to a Purdue University poll.
Jon Schwalls, head of Southern Valley Fruit and Vegetables, told the outlet that production costs are rising throughout all sectors of the company’s operation, noting that small farmers are being squeezed particularly hard. The farming operation, based in Georgia, saw an increase of 48 percent in fuel costs last year — and prices are continuing to rise — while packing materials increased 18 percent, pallets by 75 percent, and refrigerants by a whopping 200 percent in 2021.
Fiona M. Scott Morton, professor of economics at the Yale University School of Management, notes that inflation, generally, does not affect small farms any differently than larger ones. She says if costs rise across the board, then operations of all sizes are hit that depend on the same goods — fertilizer, transportation, electricity and other line items — in order to operate, The Epoch Times reports.
Prices on food, commodities and energy have been rising for the past year — practically since Biden took office after the deep state stole Donald Trump’s reelection from him. Consumers who managed to see their wages rise throughout Trump’s term thanks to massive rollbacks in corporate and small business taxes (as well as personal income tax reductions) have seen those gains erased under Biden.
“Consumers saw price increases during 2021 as well, reflected in a 7 percent increase in the Consumer Price Index in December 2021, a 39-year high,” The Epoch Times reported.
“Prices for food eaten at home rose by 6.5 percent overall from the year before, with some segments falling below this mark and others surpassing it. The index for meats, poultry, fish, and eggs rose by 12.5 percent during 2021, though it did fall by 0.4 percent in the final month of the year. Beef prices in particular rose by 21 percent year-over-year in November 2021,” the outlet continued.
Dairy prices went up as well, though not as much, accounting for the smallest increase among the various food categories, rising 1.6 percent last year. Fruits and vegetables, by comparison, rose 5 percent year-over-year and nearly a full percent in December.
The only thing that has saved consumers from larger price increases are pre-signed contracts spanning most of 2021, which locked-in prices, but, as producers know, many of those contracts are set to expire in short order. The new contracts will have to account for the massive price increases that producers have had to pay.
“As these expire, there is going to be a hard reset,” Schwalls told The Epoch Times.
Darius Campeau, president of Ottawa Valley Meats, told the outlet that labor costs have also increased.
“In order for us to maintain production, we had to provide raises, bringing our average wage from $24 per hour to $33 per hour,” he said.
The perfect storm of inflation was created when ‘health experts’ like Anthony Fauci convinced their governments to shut down their economies over COVID. Now all consumers everywhere will literally have to pay the price for those calamitous decisions unless they can figure out alternatives.