The other day I went grocery shopping. I took a small cart and began my usual path through the store. I didn’t find Mandarin oranges, so I asked a helpful clerk if they had any. He mentioned that while there were on promotion the next day, but had not arrived, citing supply-chain issues. I continued on with my shopping. At check out, I was presented with a bill that was higher than expected. ~ By a lot! I was aware we are experiencing price inflation but was completely caught off guard.
In fact, we are seeing the highest inflation in years. Currently, the fast-moving consumer goods (FMCG) inflation in the US is at 6.8%1. While the drivers of inflation are complex, it does make sense that prices are increasing when supply-chain issues and unprecedented labor shortages are straining the system.