'The grocery industry, including our team, is adapting to consumer needs in real-time, and will continue to do so despite these market conditions.' | Opinion
Nicholas Bertram is president of The Giant Company, a grocer known to customers as Giant, Martin's, Giant Heirloom Market, Giant Direct and Martin's Direct, with locations across Pennsylvania, Maryland, Virginia and West Virginia. The opinions expressed in this commentary are his own.
.leftside-floating-image { width:100%; display:block; margin:0 auto 1.5rem; } @media screen and { .leftside-floating-image { float:left; width:50%; max-width: 200px; display:block; margin:0 1.5rem 1rem 0; } } Since the onset of the pandemic, there has been intense scrutiny on the grocery industry, as historic demand and a stretched supply chain have led to rising food prices and shortages of certain products.
For The Giant Company, our cost inflation has accelerated during the past five months and is around 4% — more than triple the 2020 rate of 1.2%. Hopefully the inflation rate has peaked, but there does not appear to be any real deflation on the horizon. Most of the factors driving price increases are beyond our control — like ongoing labor shortages, limited availability of raw ingredients, freight and packaging constraints, and unpredictable weather events.
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