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Companies had struggled to estimate demand correctly, while factory production was halted off and on during theof 2020. The unpredictable surge in demand caused US shipping ports to become unusually congested as imports picked up speed, delaying shipments of all types, from sneakers to meat.
These problems were passed onto consumers in the form of soaring prices. The Consumer Price Index rose 0.4% in September,, exceeding the median forecast of a 0.3% gain from economists surveyed by Bloomberg. That's a 5.4% increase year-over-year when parts of the economy were still shut down last September.
Food may be just one of inflation's many victims this year, but as the holidays roll around, it seems to be hitting wallets the hardest.Subscribe to push notifications
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