I’m Clinton Griffiths with today’s AgDay Minute.
It’s going to cost you more to feed folks at the Thanksgiving table this year. The American Farm Bureau Federation reported that total costs will be 14-percent more, with an average cost of $53.31 for a family of ten. Economists blame the increase on inflation, supply chain issues, and a surge in demand. Meanwhile, a similar survey from the Department of Agriculture reports Americans will only see a 5-percent increase in cost.
Like just about everything on store shelves, your favorite bowl of cereal could cost you more next year. According to one regional wholesale supplier, General Mills is raising prices on hundreds of its products in 2022. The supplier said it received letters about the price hike from the company last week. Popular cereals like Cheerios, Cinnamon Toast Crunch, and Lucky Charms are included. Something that may not be as big of an issue this year…shipping.
FedEx, United Parcel Service, and the US Postal Service may wind up having a much easier time dealing with the holiday crunch than some forecasters predicted. The Wall Street Journal reported that it’s due to an uptick in people buying gifts in stores and doing their shopping early because of concerns about the supply chain. Other factors include added capacity, an extra shipping day between Thanksgiving and Christmas, and COVID-19 vaccines available for workers.
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