Conagra Brands Inc. projected gross inflation during fiscal 2022 would be approximately 11%. The company now is predicting it will be closer to 14% for the fiscal year and is taking steps to mitigate the impact. The steps include incremental pricing actions, including list price increases, and modified merchandising plans. Click here to view the full article.
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Shipping Companies Had a $150 Billion Year. Economists Warn They’re Also Stoking Inflation1/21/2022 Ocean shipping rates are expected to stay elevated well into 2022, setting up another year of booming profits for global cargo carriers — and leaving smaller companies and their customers from Spain to Sri Lanka paying more for just about everything. Read the full article from bloomberg here: https://www.bloomberg.com/news/features/2022-01-18/supply-chain-crisis-helped-shipping-companies-reap-150-billion-in-2021
Maybe you know the routine. Every so often, I go through my refrigerator, check labels on the items, and throw out anything that’s a month, or a week, or maybe a few days past the date on the label. I might stop to sniff, but for my whole adult life, I’ve figured that the problem was obvious — my jam or almond milk or package of shredded Italian cheese blend had “expired” — and the fix was simple: Into the garbage it goes.
Read the full article from Vox here: https://www.vox.com/22559293/food-waste-expiration-label-best-before From the United States Department of Agriculture:
WASHINGTON, Jan. 7, 2022 – U.S. Department of Agriculture (USDA) Secretary Tom Vilsack today announced an adjustment in school meal reimbursements to help schools continue to serve children healthy and nutritious meals. This move will put an estimated $750 million more into school meal programs across the nation this year, making sure federal reimbursements keep pace with food and operational costs, while ensuring children continue to receive healthy meals at school. Grocery store shelves across America are wiped clean, and they're staying empty as stores struggle to quickly restock everyday necessities such as milk, bread, meat, canned soups and cleaning products. Click here to read the full article from CNN Business: https://www.cnn.com/2022/01/11/business-food/grocery-store-shelves-empty/index.html
Empty shelves have returned at supermarkets as grocery employees call out sick and truckloads of food arrive late. To read the full article from CNBC, click here: https://www.cnbc.com/2022/01/11/empty-grocery-shelves-return-as-sick-employees-supply-chain-delays-collide.html
Grocery stores still have empty shelves amid supply chain disruptions, omicron and winter storms1/13/2022 The new year hasn't stopped ongoing food shortages. Read the full article at USA Today here: https://www.usatoday.com/story/money/shopping/2022/01/12/shortage-grocery-store-empty-shelves/9178100002/
Cream cheese is one of the latest ingredients in short supply as food sellers scramble to meet elevated demand as labor shortages and port congestion have wreaked havoc on the supply chain. While backups at ports are starting to clear up, there is concern that the Omicron coronavirus variant will exacerbate global supply chain problems. Click here to read the full article from CNN.
Nearly two years into the Covid pandemic, the virus that has infected millions and killed hundreds of thousands of Americans continues to disrupt the powerful supply chain that moves goods from factories to U.S. homes.
The problems seem endless and varied — creating headaches for manufacturers down to consumers. To read the full article from NBC News click here. In a letter to families this week, Indiana School District, Noblesville Schools let them know supply chain issues are causing problems in the lunchroom, which means lunches will have much less variety than normal. Click here to read the full article.
Problems in the supply chain are showing up in many areas — from companies not producing enough product, to delivery delays and a shortage of workers in the trucking and warehousing industries. Keeping properly stocked with food is a particular issue for schools — and for food banks and pantries, which have seen spikes in hunger due to the pandemic. Click here to read the full article.
Millions of people quit their jobs in the ‘Great Resignation.’ Here is why it may not last long11/19/2021 Reports of the so-called Great Resignation may have been exaggerated. Over the past several months, a rapidly growing number of Americans left their jobs — more than 4.4 million in September, the most recent month for which data is available. During that time, much of the narrative has focused on burned-out employees stomping out of their jobs — the “Big Quit” as some of have put it, in which workers are demanding higher wages, better working conditions and more mobility. Click here to read more from CNBC.
Transportation Secretary Pete Buttigieg told Yahoo Finance Live supply chain bottlenecks at the country's major ports will likely persist for the foreseeable future. The supply chain bottlenecks triggered by the pandemic continue to have multiple effects on the U.S. economy. Click here to read the full article from Yahoo Finance.
The Kellogg Co. has filed a lawsuit against its local union in Omaha complaining that striking workers are blocking entrances to its cereal plant and intimidating replacement workers as they enter the plant. Read more about Kellogg's here.
Prices shoppers paid for groceries climbed 1% in October from September and were 5.4% higher than at the same time last year, according to data released Wednesday by the Bureau of Labor Statistics. Overall, prices, which also include things like rent, cars and energy, climbed 6.2%, over the last 12 months, the largest increase since 1990. Click here to read the full CNN Business article.
U.S. consumer prices jump 6.2% in October, the biggest inflation surge in more than 30 years11/10/2021 Inflation across a broad swath of products that consumers buy every day was even worse than expected in October, hitting its highest point in more than 30 years, the Labor Department reported Wednesday. The consumer price index, which is a basket of products ranging from gasoline and health care to groceries and rents, rose 6.2% from a year ago, the most since December 1990. Click here to read the full article from CNBC.
Consumers are returning to restaurants in droves, but continued demand for takeout is exacerbating shortages of items like plastic straws, coffee cups and to-go containers.
Snarls in the global supply chain have been rippling across the economy for months as the health crisis has created bottlenecks and other new challenges for companies. Click here to read the full article from CNBC. American Trucking Associations' Chief Economist Bob Costello said the current driver shortage has risen to 80,000 – an all-time high for the industry. Read the full article from the American Trucking Association here.
For produce packaging suppliers and shippers, inflation is a fact of life in 2021. “Due to resin increases and transportation increases, we have seen some packaging costs rise upwards of 30%,” said Steve Greenfield, director of sales and marketing for NNZ Inc., Lawrenceville, Ga. “I don’t think this trend will reverse until the middle of 2022.”
Read the full article from The Packer here. Grocery store shelves bare? These products may be hard to find due to supply chain issues10/18/2021 As the world reaches the two-year mark of the COVID-19 pandemic, more items are becoming scarce because of a supply chain shortage across the globe. Supply chain concerns are due to “record-level congestion at the Port of Los Angeles/Long Beach that has spread to the East Coast, the widespread power outages across China, shortages of truck drivers and service workers, and COVID-19-fueled infections and restrictions,” Tinglong Dai, a business professor at Johns Hopkins University, told USA TODAY in an email. Read the full article from USA Today.
Pork, much like everything else these days, has gotten more expensive due in part to the supply chain issues and inflationary pressures spurred by the pandemic. And now comes another wildcard: The pork industry's ability — and desire — to adapt to a new animal welfare law in California, its largest US market. Read the full article from CNN Business here.
According to the Labor Department, wholesale prices jumped 8.3 percent from August of this year compared to August of 2020 -- the biggest gain since the department started tracking those prices more than a decade ago. Click here to read more about the price increases from CBS News.
The restaurant industry’s unemployment rate fell to 7.5% in September but remains well above pre-pandemic levels, providing another worrying sign that the labor crunch isn’t going to disappear anytime soon. Click here to read the full article from CNBC.
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The global supply chain is slowing down at the very moment when Americans are demanding that it go into overdrive. Click here to read the full article from The Atlantic.
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