J.M. Smucker raised prices for its peanut butter in August, while General Mills, which makes Cheerios and Haagen Dazs, is planning to hike prices too. Costs could be rising because of supply chain disruptions.
The Federal Reserve and the government have been printing money at unprecedented rates since the pandemic began. Printing dollars devalues dollars already in circulation, meaning it’ll take more of them to buy whatever you want to buy. Peter Schiff, chairman at ShiffGold, has been warning about it. NTD asked him if this is how inflation takes hold—first, the cost of raw materials rises, and then the price of consumer products goes up.
