I’m not talking olive oil, safflower, or canola, but the big guys. The oil companies as in Exxon, BP, and their kindred spirits. I’m sure you’re well aware how much money that fill-up is costing, but the spillover effects are even more noticeable. Have you watched your grocery bill start its skyrocket spiral? How about your daily extra special coffee treat? Or, your restaurant meal? Everything food-related is going for the stratosphere and predictions are that whatever we are experiencing now will only continue to escalate. Swell.
Yes, few people will notice the difference between a 5 or a 6 oz serving of a chicken breast, but will notice that the plate is filled with an assortment of other foods so the main protein does not look so lonely. A handful of lettuce, although its price has gone up handsomely, too, is still less expensive for a restaurant than sticking with the larger ounced protein.
Portion sizes are not the only items shrinking. At the grocery store, many companies have left a product’s price the same, but reduced its size. Tricky, eh! Add 10 minutes for additional label-reading.
Maybe food delivery services will continue to thrive (Amazon is planning a major new national program roll-out) as consumers feel more secure trying to make that $4 a gallon gas last longer and take advantage of delivery specials! The program worked in Washington state so why not Washington, DC? The East Coast awaits.
Some of the obvious jumps are in foods from Florida or California and the end result, as in orange juice. Way up. Grain prices are way up so bread costs are higher which means your favorite sandwich will be a more precious commodity.
Every business is struggling to figure out how to make money and not raise prices too much. It’s kind of a good news-bad news scenario. As in hotels which have been holding prices down and offering lots of sales, but now that consumers are traveling more again, you guessed it: Prices are up.
The consumer is at the other end of the equation trying to figure out what to buy and what needs to be shelved. This equation has few easy answers. As some would say, time will tell or it’s time to make lemonade!
In the meantime, watch how the price of gas, the cost of products, and the sheer energy involved in production affect our bottom line! Not pretty.
The month of March is turning out to be a true food fiesta. Starbucks just announced that they will have a weekly, as in strong, bold flavor profile coffee for the next 8 weeks. Starting off with Yukon Blend, a perennial favorite, the goal is to chase away the rough winter weather and welcome spring with a bold, new outlook.
