Inflation ‘here to stay’: Billionaire supermarket owner – By Catie Perry (FOX Business) / Sept 14 2021
US Labor Department reports prices for food and energy increased in August
John Catsimatidis believes that inflation at the gas pump and in the grocery aisle isn’t going away anytime soon.
“Inflation is here to stay,” he said on FOX Business’ “Varney and Co.”
Catsimatidis, who runs the Gristedes grocery chain in New York and is also in the oil business, said manufacturers are “panicking” as food, energy and transportation costs go up.
His comments come as the Labor Department said Tuesday that the consumer price index rose 5.3% year over year last month, matching economists’ expectations.
