Texas turkey shortage? Experts talk supply chains, Thanksgiving food costs – By R. Dallon Adams (Houston Chronicle) / Nov 11 2021
With Thanksgiving right around the corner, how could rising food costs, labor shortages and other market disruptions impact holiday food availability and pricing?
Supply chain issues and product shortages have reverberated across industries over the last 18 months, leading to empty store shelves and shipping delays. With Thanksgiving right around the corner, how could rising food costs, labor shortages and other market disruptions impact holiday food availability and pricing?
Inflation and supply chains: Thanksgiving pricing outlook
There’s been plenty of discussion about recent inflation numbers and what this could mean for household commodities. Overall, the latest Consumer Price Index was up 0.4% in September and 5.4% in the last year, according to the Bureau of Labor Statistics.
Michael Swanson, Wells Fargo’s Chief Agricultural Economist, said U.S. food inflation is triple the standard 1.1% rate of the last decade, pointing to labor market shortages and “food supply chain breakdown” as underlying causes. Additionally, food producers and manufacturers have paid higher wages to retain workers, Swanson explained, leading to “heftier prices” with shoppers “footing the bill.”
