The increased cost of commodity items in wholesale and retail stores is a result of shipping challenges, as well as the global COVID-19 economic phenomenon.
This is the view shared by one of the Nation’s business proprietors, Andy Williams, associated with the Hot Spot chain of supermarkets.
He says the cost of shipping, especially when the items are from far-off destinations, is affecting prices.
The general view is that the cost of shipping has multiplied tremendously, in some instances, four times the usual rate.
Williams says it’s a cost that normally trickles down to end users.
Williams says global supply chain, since the start of the pandemic, has seen tremendous changes and shipping rates are expected to stay high in 2022, which can trigger fears of stoking inflation.
Williams says it’s not a case where the suppliers or the distributors arbitrarily hike up the cost of their goods.
