Costco Chief Financial Officer Richard Galanti is warning about exceedingly difficult times for U.S. consumers as food inflation is expected to continue to worsen all over the country. At the warehouse chain, shoppers are noticing explosive prices across a series of everyday items right now, and that will continue to be the norm for the rest of the year and into 2024. New reports reveal price hikes of up to 70% in some key categories.
Meanwhile, some shelves remain empty at the retailer’s stores, That’s why, in today’s video, we decided to track the grocery products facing the steepest price increases in recent weeks and months, and which ones are still in short supply at Costco so you can prepare for the challenging environment that lies ahead.
Over the past year, it has been hard to overlook the fact that the cost of everything from produce to baked goods to dairy products increased at Costco warehouses. But new reports show that this trend has intensified in recent months, and analysts at GoBankingRates say that a new round of price hikes was just introduced in the company’s system, that’s why staying aware and prepared is key.
Since April, price tag changes of 30% up to 70% were observed at the chain’s warehouses, according to Julie Ramhold, an industry expert with DealNews.com. That was also true in May, and June, with a flood of consumer reports confirming the trend. The report also notes that the most shocking price hikes occurred in the meat category, which includes beef, pork, poultry, and fish.
Right now, four-pound packs of Costco’s Kirkland Signature Sliced Bacon are selling for $21.99, up from $16.99 just a couple of months ago, Ramhold points out. Another user noted in May that ground beef prices soared to $25.99 at Costco, while the same product was selling for $19.49 at Aldi. The steepest price increase was observed on King Crab prices, which shoot up from $22.99/lb to $38.99/lb, a whopping 70% surge.
At the same time, dairy products and eggs continue to face empty shelves at Costco warehouses, and prices are rising faster than at other big-box stores. For lots of people out there, these higher prices mean they can no longer afford to shop at Costco. Although you can still find deals for certain products, the cost of basic staples is reaching record levels.
Data shared by Bloomberg reveals that those price hikes are already hurting Costco’s bottom line. In May, the company’s sales declined for the third straight month as US consumers fled to cheaper stores.In June, the company’s Chief Financial Officer Richard Galanti warned about exceedingly difficult times for US consumers.
He said he has seen a significant share of customers switching from purchases of beef products to less expensive choices, like pork and chicken. He highlighted that typically observes this trend historically during times when the US entered a recession in the past.
Galanti’s cautious tone scared investors, who were already concerned about the company’s rising prices, supply chain problems, and slowing sales. That pushed Costco stock down 20% from March levels.
With crazy-high prices turning more and more customers away, turbulence is coming for the warehouse chain. But before things start spiraling out of control, don’t forget to check for deals and get ready for the inflationary crisis at major grocery stores in the months ahead.
Article and video cross-posted from Epic Economist.
Preparing for the Unexpected: Your Essential Partner in Health Readiness
In an increasingly unpredictable world—where supply chain disruptions, natural disasters, and global travel can leave us vulnerable to sudden health challenges—being prepared isn’t just smart; it’s essential.
That’s where Jase Medical steps in, offering innovative solutions that empower individuals and families to take control of their health with emergency medication kits designed for real-life scenarios. As someone who’s always advocated for proactive wellness, I was impressed by how Jase Medical combines expert medical guidance with convenient, customizable options to ensure you’re never caught off guard.
At the heart of their offerings is the Jase Case, a comprehensive emergency antibiotic kit priced at just $289.95. This powerhouse contains five life-saving antibiotics and five vital symptom-relief medications, capable of treating over 50 common infections—from respiratory issues and skin conditions to traveler’s diarrhea and more.
What sets it apart? It’s fully customizable with 28 add-on options, including a specialized KidCase for children ages 2-11, making it ideal for families.
Whether you’re stocking up for home emergencies or preparing for remote adventures, the Jase Case provides peace of mind with medications that boast extended shelf lives—up to five years or longer when stored properly, with studies showing 90% potency retention even after 20 years.
For those on the move, the Jase Go travel med kit at $129.95 is a game-changer. Curated by physicians, it addresses over 30 common travel ailments, from digestive upsets to minor injuries, ensuring explorers, hikers, and globetrotters can handle health hiccups without derailing their plans.
And for targeted concerns, Jase Medical offers specialized kits like the UTI Kit ($99.95), which includes test strips and treatments for urinary tract infections, vaginal candidiasis, and even jock itch, or the Parasites Kit (starting at $199.95), featuring compounded Ivermectin and Mebendazole to combat internal and external parasitic infections.
But Jase Medical isn’t just about one-off kits; their Jase Daily service provides an extended supply of your ongoing prescriptions, supporting hundreds of medications for chronic conditions like diabetes, heart health, high blood pressure, mental health, and more. This ensures long-term preparedness, safeguarding against factory shutdowns or extreme weather that could interrupt your regular supply.
The process couldn’t be simpler or more reassuring. Start by customizing your order online, then benefit from a thorough review by a team of world-class physicians who ensure safety and accuracy. In most cases, prescriptions are issued after a quick consultation—sometimes just a call to clarify allergies or needs—and your kit arrives discreetly at your door. While they don’t accept traditional health insurance, many customers use HSA cards, and refills are available for added convenience.
What truly stands out is the real-world impact. As radio host Glenn Beck puts it, “The supply lines for antibiotics already are stressed to the max. Please have some antibiotics on hand… You can do it through Jase.”
One satisfied customer shared, “It could have been a nightmare. Instead, the best trip we’ve had,” after their kit turned a potential health crisis into a minor blip during a family vacation.
In a time when health uncertainties loom larger than ever, Jase Medical isn’t just selling products—it’s delivering empowerment. Don’t wait for the next disruption; visit Patriot.TV/meds today to build your personalized emergency plan and step into a more secure tomorrow. Your health, and your family’s, deserves nothing less.
Unsound fiscal policies are destroying the nation, bit by bit…2+2=5 may be woke math but it is more like 2+2=less than zero…sure FEELS good to be broke
Bidenomics… nothing to be proud of.
It is well past time we get the jackass Biden out of the white house before he puts the final nail in our coffin. He and his coke-snorting son belong in a Federal prison somewhere doing hard time. It’s just disgraceful!