"U.S. consumers face "serious" inflation in the months ahead for clothing, food and other products, the head of Wal-Mart's U.S. operations warned Wednesday. The world's largest retailer is working with suppliers to minimize the effect of cost increases and believes its low-cost business model will position it better than its competitors. Still, inflation is "going to be serious," Wal-Mart U.S. CEO Bill Simon said during a meeting with USA TODAY's editorial board. "We're seeing cost increases starting to come through at a pretty rapid rate."
"Along with steep increases in raw material costs, John Long, a retail strategist at Kurt Salmon, says labor costs in China and fuel costs for transportation are weighing heavily on retailers. He predicts prices will start increasing at all retailers in June.
"Every single retailer has and is paying more for the items they sell, and retailers will be passing some of these costs along," Long says. "Except for fuel costs, U.S. consumers haven't seen much in the way of inflation for almost a decade, so a broad-based increase in prices will be unprecedented in recent memory."
"Consumer prices — or the consumer price index — rose 0.5% in February, the most since mid-2009, largely because of surging food and gasoline prices. Core inflation, which excludes volatile food and energy costs, rose a more modest 0.2%, though that still exceeded estimates."
Many economic forecasters are predicting hyperinflation. What is hyperinflation? Wikipedia says, "In economics, hyperinflation is inflation that is very high or "out of control"".
So, what can you, the customer do to stop it? Nothing really. What you do have control over is how it affects you and your bank account. You need to stock up on items that you use everyday NOW! The sites that I follow say that hyperinflation could start as soon as May! Do you use coupons? Well you need to start now! Capitalize on store sales and match them with coupons to get the lowest price possible and stock up!! Now going out and filling your pantry can be expensive so let me be clear that I am not recommending that you go into debt to do this. Don't use your credit card! That totally defeats the purpose! The interest will negate any savings!
At Shelf Reliance we have an innovative program called The Q. It allows you to create a "home store" that is stocked with nutritious everyday foods! How many times a week do you run to the store for "a few things" and spend $100 dollars? 2 to 3? Most people will say at least that. Just by reallocating, or investing $100 a month to build your own "home store" you can save up to $2500 a year! You are going to save time and money in addition to eating healthier and having more time for the things that are important to you.
Take a look at the blog posts.
"Why Build A Home Store" and "Using The Q To Build Your Home Store."
If you can afford to invest it, Shelf Reliance has some great packages to get your home store started! Visit my site at www.thrivingtexasmama.com and click on the buy tab to see our great packages!
If these economic forecasts are wrong, what are you left with? FOOD that will still feed your family and still save you money! IT A WIN, WIN SITUATION
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