GREENSBORO, N.C. — Yes, there are different kinds of supply chain issues out there. Yes, prices are going up, but it’s not everything out of stock and getting more expensive.
Let’s break it down. The USDA says there's isn't actually a turkey shortage, but you're still going to pay more. The birds are expected to cost you an extra 10% to 15% more.
Why? All poultry prices are rising. Farmers say the grain they eat is harder to get this year, so it's more expensive to feed them and therefore more expensive to feed our families.
Most of our canned and pureed pumpkins come from Illinois, which was hit hard by a fungus this year. While likely enough survived to fill your pumpkin pie prepare to spend more.
This is the double whammy, aluminum shortages mean pumpkin and any other canned goods are in shorter supply. Aluminum suppliers can't get their hands on enough magnesium which is produced in China and is an important part of the aluminum-making process.
Meat prices are up, with beef roast soaring almost 25%m, bacon increasing 20.2% and staples like eggs (11.6%) and coffee (4.7%) are also on the rise.
"Demand will remain strong, supply will remain constrained and unfortunately, higher prices will be here, probably for the next six maybe nine months," said Jill Schlesinger, CBS News Business analyst.
Yes, your grocery bill maybe a little more expensive this year.
Yes, there are some supply issues.
The overall message from the USDA is if everyone gets only what they need there should be enough to go around.