PA food supplier warns Americans getting squeezed by inflation are becoming 'resistant' to higher prices
FOX Business' Jeff Flock reports from a produce processing center in Philadelphia, where business is getting squeezed by inflationary costs.
As the Keystone State saw inflation last year dig deeper into residents’ wallets than any other state, one Philly-based food supplier is warning that the fight may not be over yet.
«We're concentrating all the time on having enough product and the right product for our customers,» TMK Produce’s buyer-sales lead Mike Watson told FOX Business’ Jeff Flock during an appearance on "Varney & Co." Monday. «And, we can see that they're resistant to some of these higher prices as they continue.»
«The volume may tighten up a little bit. It's what we see as our customers are buying more often, [but] less at each purchase,» he continued.
The Philadelphia-based produce supplier has been caught between higher input costs and consumers struggling to pay for inflationary prices. According to ConsumerAffairs, Pennsylvania saw the highest grocery inflation rate of any state in 2023, at an 8.2% increase year-over-year.
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ConsumerAffairs’ analysis also comparatively noted that a family of four in Colorado who would have spent an average of $750 per month on groceries paid $21.75 more last year, while the same family in Pennsylvania forked up $61.50 more per month.
Pennsylvania saw an 8.2% increase in grocery prices year-over-year, more than any other state according to ConsumerAffairs data. (Fox News)
«They're tightening it up a little bit,» Watson noted of consumer trends.
Inflation may be gradually cooling, but the average American is still shelling out a lot more money for everyday necessities.
The typical U.S. household needed
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