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March 11, 2024
U.S. Imports Facing Massive Price Surges Which Will Be Felt At Every Store In America, On Top Of Continued Increases In Food, Especially Beef & Egg Products
This is one of those reports that remind us that increasing manufacturing in the U.S. should be each and every president's goal. The fact that so much what we buy here in America is made in another country because in 2010, China displaced America as the largest manufacturing country in the world.
The Congressional Research Service reported in January 2017, the most recent of its type of report, that "Manufacturing output, measured in each country's local currency adjusted for inflation, has been growing more slowly in the United States than in China, South Korea, Germany, and Mexico, but more rapidly than in most European countries and Canada."
The Wall Street Journal published a piece on March 10, with the headline of "Two Canals, Two Big Problems—One Global Shipping Mess," and a sub-header stating "Drought in Panama and Houthi attacks in the Red Sea are delaying deliveries and pushing up costs."
Over 7,000 miles away, vessels that move containers through Egypt’s Suez Canal are waiting for naval escorts or avoiding the passage altogether to take a much longer voyage around South Africa. Ship operators fear that their crews could be imperiled on the journeys through the Red Sea by missile or drone attacks from a Yemen-based rebel group.
The Suez’s problems are geopolitical and those in Panama are climate-based, but both are roiling global trade. Cargo volumes through the Suez and Panama canals have plunged by more than a third. Hundreds of vessels have diverted to longer routes, resulting in delivery delays, higher transportation costs and economic wreckage for local communities.
Everyone knows that when shipping costs rise, the cost to retailers rise, and then they raise the cost to consumers because businesses are not in the business of giving up their profits.
When I read that I wondered how much that would affect Americans?
In December, Reuters provided a handy little chart that tells us exactly who will be affect the most by the issues at the Suez Canal. Those that shop at Walmart or Target being the ones about to see the biggest differences.
It is not often people get enough warning time to take preemptive measures for specific items, but as long as the Iran-backed Houthis continue to attack cargo ships, the higher prices are going to get.
We all saw hoe bad it could get in 2020 and 2021 when supply chain issues occur. Considering supply hasn't completely recovered since then, and inflation brought prices up exponentially, which are still rising, just be a less, this is is bordering on disastrous. (ANP Emergency!:PLEASE donate to ANP! Due to the globalists war upon truth and the independent media, our monthly revenue has been cut by more than 80% so we need your help more now than ever before. Anything at all ANP readers can do to help us is hugely appreciated.)
SURGE PRICING COMING.......
Another WSJ report claims that "surge pricing is coming to more menus near you," where restaurants and/or fast food joints charge more when they are busier than they do when not as busy.
If you are hungry for barbecue on a Saturday night this month, a delivery of a pulled-pork sandwich from Cali BBQ could cost you around $18.
Or you could hold off a few days and order the same sandwich delivered on a weekday afternoon for around $12.
A six dollar difference, at a time when the majority of Americans are living paycheck to paycheck, is quite the "surge," and quite unaffordable for most.
Recently it was reported that Wendy's was planning to do the same, raise prices during the busiest times, and after some serious backlash, backtracked as fast as they could.
While that is something other restaurants may do, others such as McDonald's was in the news in the latter part of 2023 for simply raising prices, no "surge" for timing, but ridiculously high pricing, such as $18 Big Mac combo meals, which they explained as "strategic menu price increases."
Remember when we warned about cattle shortages and how it would raise the price of all beef products? Well, here is comes.
Whether sizzling burgers on a backyard grill or relishing a bone-in filet mignon at a local steakhouse, consumers are bracing for a sharp increase in beef prices due to a historic shortage of cattle in the United States. According to the Department of Agriculture's latest biannual cattle report, the number of American beef cows has plummeted to the lowest level in over half a century. This significant decrease in inventory signals no quick resolution, forecasting a prolonged period of escalated meat prices.
Preppers generally have a decent supply of freeze dried foods, but many might wants to stock up on beef products. While many may be able financially to splurge on a steak here and there, when making casseroles, stews, soups or other menu items that require beef, using handful rather than forced to use an entire, overpriced package, might be the way to go.
For those who eat pork? Stock up at the store because this is where the good news comes in. Pork prices are stable for the moment, and projected to remain that way for a while at least, barring a swine flu surprise.
Egg prices are on the rise again due to bird flu, affecting egg laying hens more than chicken prices. According to Fox News "The average price for a dozen grade A eggs in the U.S. has risen from $1.27 in January 2021 to $2.52 in January 2024, a 52.6% increase."
Last but not least, after years of rising prices it is difficult to tell exactly how much more you are paying for individual food products, but a piece that came out on March 10 over at Cincinnati The Enquirer gives us a great visual of how high of a percentage key foods have risen since the lockdowns by state leaders in March 2020.
While overall inflation is down from its peak, we still saw an average of 4.1% by the end of 2023, and it rose in January (February's numbers come out on March 12) by 3.1%, year over year. In other words, January 2023, it rose 6.4% and since then it has risen another 3.1%.
Five of the items that got much pricier over the course of the last 12 months, and are expected to continue to rise, are steaks, non-prescription drugs, cigarettes, fresh fruits and sugar and sugar substitutes.
BOTTOM LINE
Inflation is nowhere near where it was at its peak in 2021 and 2022, but it continues to rise more than the target rate of 2%, yet even at the target rate, prices will continue to rise each year.
Prices for beef, wheat products, flour, oils, baked products, cereals, eggs and more, will continue to rise and that increase is on top of the more than 20% since Biden began occupying the White House.
Between the price surges expected due the shipping costs for anything coming through the Suez Canel, and the expected food price increases due to a number of factors here in the U.S., 2024 is going to be another year for prepping.
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