Soaring Grocery Prices-The Highest Spikes in 46 years
During the COVID-19 outbreak, Americans have been panic buying on all kinds of groceries like wheat, flour, rice, eggs, orange juice and other products.
As a result, prices have risen, dramatically in many cases as it puts pressure on American supply chains which have in turn increased their cost to grocery stores.
For instance, there’s no shortage of wheat in the United States but consumers are panic buying just in case.
Because of the demand, frustrated grocery stores are having to face higher costs from suppliers that they are reluctant to pass on to their customers.
Not just consumers are worried about the prices. Eleven members of Congress wrote a letter to the Department of Agriculture urging the agency to take immediate action to prevent a shortage of refined sugar in the United States.
Get the full story at forbes.com.