America, You Will Wish You Knew This Before Next Month current events world news 2023
After a year of record-breaking price increases, food industry executives have just issued a dire warning to all Americans. Buy food now, because grocery costs will go up tremendously and things will only get worse in 2023. That’s what we’re going to expose in this video. And we have a lot to cover today. In 2022, U.S shoppers have dealt with some of the steepest price increases seen since the hyperinflation crisis that marked the 1970s. We paid on average 20% more on meat, 40% more on eggs, 17% more on breakfast cereal, 11% more on peanut butter, 42% more on gasoline, 27% more on electricity, 32% more on propane, kerosene and firewood, and 12% more on appliances. According to an estimate from Moody’s Analytics, soaring inflation has forced American households to spend an extra $445 per month to buy the same items they did last year. And food industry executives say the conditions are going to get even tougher in 2023. In a recent interview with Fox Business, supermarket CEO John Katsimatides, the owner of Gristides and D’Agostino Foods, warned that food giants such as Kraft Heinz, PepsiCo and Monterey will keep passing higher costs on to consumers in the next year. The executive had previously stated that double-digit price increases will affect thousands of different items adding that the trend will not drop anytime soon. Katsimatides noted that inflation and supply chain problems will continue to plague grocery store chains and other retailers around the United States. He said, I see food prices going up tremendously, highlighting that in the coming months, promotions will become harder to find, and also revealing that food manufacturers are dropping the production of low-moving items which will result in more empty shelves soon. The CEO’s comments come just days after some major food brands including Coca-Cola announced a new round of price hikes for 2023. Even if overall inflation eases, food inflation is expected to remain elevated for the foreseeable future given that the challenges faced by the food industry are likely to be aggravated by even tighter supplies over the next few months. In October, the executive warned that Americans would pay the highest prices ever for turkeys and the highest price ever for Thanksgiving dinner. Given that the price per pound of turkey rose by 23%, with some whole turkeys at Walmart experiencing a 124% price increase compared to a year ago, according to a report by Business Insider, Katsimatides’ forecasts have proven to be accurate. Wells Fargo analysts explained that turkey and poultry inventories collapsed after the bird flew wiped out livestock earlier this year. From here on, higher prices will become the new norm. They also cautioned that turkey, chicken, and egg supplies will become more limited due to continuing impacts of the highly pathogenic avian influenza. Katsimatides also exposed that many food retailers are using the disruptions in supply as an excuse to charge their customers a little bit extra. Let’s say they normally sell 10 million pounds of chicken. They figured if they raised the price 10 or 20 cents, some people will buy less chicken, and the people that really want to buy the chicken, it’ll be there for them to buy, he said. Meanwhile, egg innovation CEO John Bronquiao, who acquired the first U.S. patent for reduced fat and cholesterol eggs, echoed Katsimatides’ concerns that the lower supply, coinciding with labor, freight, and vendor issues, won’t be enough to meet consumers’ demand.
This is, America, You Will Wish You Knew This Before Next Month
Special thanks – @PeterSchiffChannel
Subscribe – @-anonymous https://www.youtube.com/user/anonymousworldvoce
Follow us on
YouTube – https://youtube.com/anonymous
Instagram – https://instagram.com/anonymous
Twitter – https://twitter.com/anonymousofcl
Facebook – https://www.facebook.com/anonymousdirect
More videos – https://bit.ly/3pMKQQW
Mind blowing videos for you – https://www.youtube.com/playlist?list=PLtoSlPOzD0YVfMGRnaVWqnOc1Af_tp2kI
Background music – Epidemic Sound
Content licensed in part by CTD Clip Licensing Group.
For concerns regarding material used in this video, please contact us via email at: anonymous.official.reply@gmail.com and we can sort it out.