Billionaire grocery CEO predicts 10-14% inflation on food by October ๐Ÿ‘€
ยท Jul 20, 2021 ยท

Thanks to the fiscally sound policies of President Unity Unity, the CEO of a Manhattan grocery chain says your bacon will literally cost more money come this fall.

Businessman John Catsimatidis expects 10% to 14% food inflation by October.

Catsimatidis โ€” the owner and CEO of Manhattan-based grocery chain Gristedes Foods โ€” told Fox Business that Americans can expect higher prices for basic expenses in the coming months.

"We're both in the food business, and we're in the oil business. Food prices are getting higher, and we expect even more increases by October," he said. "We're seeing anywhere from 10% to 14% by October 1. It's a real number."

"And oil prices โ€” I know they're a little bit off today, but I expect even higher numbers," Catsimatidis continued. "It's a sine wave โ€” everything just goes up and down. I expect by October you're gonna have over a 6% annualized rate of inflation."

Catsimatidis said he would have no choice but to increase costs for customers as a way of protecting the salaries of his workers and the company's financial health.

Better look for those good sales now!

Biden has been trying to claim that inflation is all just about the end of lockdowns, and has nothing to do with spending trillions and proposing spending trillions more since he got into office a few months ago:

Or, you know, the $3.5 trillion in new spending the Democrats are planning at this moment.

Just a few other reminders of where we're at:

Despite rising inflation, the Federal Reserve โ€” which controls monetary policy in the United States โ€” has not yet laid out a plan to taper its aggressive stimulus measures. Currently, the central bank is buying $120 billion in bonds from the private market in order to pump liquidity into the American economy.

I don't know where this inflation train will stop, but I do know that a person or a nation spending way beyond its means is bound to learn one of the hardest lessons in life:

What goes up must come down.

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