Food Store Executive Warns Supply Chain Crisis Will Drive Up Food Prices ‘Tremendously’ (VIDEO)

The supply chain crisis is having a significant and negative effect on the lives of people throughout the country.

Store shelves are empty in many places and people are having a hard time getting basic goods.

One food store executive is predicting that things are going to get worse before they get better.

From FOX Business:

Food prices will go up ‘tremendously’: Billionaire supermarket owner

Americans will see food costs rise “tremendously” in the coming weeks, according to billionaire supermarket owner John Catsimatidis.

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Catsimatidis, who is the president of Gristedes and D’Agostino Foods, discussed his concerns about inflation and supply chain issues on FOX Business’ “Mornings with Maria,” and warned companies like Nabisco, Pepsi and Coke will begin to prioritize products and raise prices in order to get ahead.

“I see food prices going up tremendously,” he told Maria Bartiromo. “[CEOs] want to be ahead of the curve and the way they’re doing it is they’re dropping all promotions. They are dropping low-moving items.”

Catsimatidis went on to say this trend won’t reverse “anytime soon.”

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“I see over 10% [price increase] in the next 60 days,” he said.

Watch the video below:

People have been posting photos of empty shelves on Twitter:

This is not good and the Biden administration doesn’t seem to know what to do about it.

 

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