WASHINGTON, U.S – (WLAX/WEUX) – With two months until Christmas, there are still loads of products clogging the nation’s ports, and it’s led to higher prices, which could stick around much longer than anticipated.
Fox’s Madeleine Rivera reports how business owners and shoppers are trying to cope.
Lately, brewing beer at the coin toss brewing company outside of Portland, Oregon, has been more challenging than usual, leaving founder Tim Hohl to celebrate simple victories.
“I’m just glad I can get my hands on the barley and the hops to make beer, you know?”
Hohl is having a hard time getting raw material because of supply chain bottlenecks.
Finding glass bottles is even a tougher job, a packaging company says,
“come January, we will not be able to offer any bottling services anymore.”
The back-ups are pushing prices up.
Now, Federal Reserve chair Jerome Powell, says inflation could likely stay elevated well into next year as economic experts say the shortages are unlikely to ease before then.
“It leans toward inflation not getting out of control. That doesn’t mean we’re not going to get a very uncomfortable 3-6 months, maybe even up to a year, but look, supply chain bottlenecks will not last forever.”
But, a shortage of truck drivers is exacerbating the supply chain crisis.
This year, the trucking industry’s expected to hit a shortage of 80-thousand drivers, a record high says American trucking associations.
With no immediate relief in sight, Hohl says he’ll just find a way.
Hohl says: “If anything over the last 18 to 20 months has told us, you just have to roll with it.”
Shoppers are likely to feel the pinch this holiday season.
Industry analysts say fewer items in store mean fewer discounts.
In Washington, Madeleine Rivera, Fox News.