Toilet paper was a hard-to-find commodity in the early months of the pandemic. Now that supply has caught up with demand, prices are skyrocketing. Some major toilet paper brands say they will be raising prices by almost 10% in the next couple of months.
And it’s not only toilet paper prices that are going up.
Grocery bills are getting higher. Prices for eggs and ground beef are up 7%. Bread is up by 11% Fresh fruits are 5% higher than they were a year ago. Alcohol is also 2% higher. and are you planning to fire up the grill this summer? Expect to pay more for bacon and hot dogs due to COVID-19 production disruption. you will also pay more for gas to get you to and from the grocery store.
That’s not all. home repair, renovation and building will also cost more.
Why the increase? Labor economists blame lack of workers and materials. after the historic layoffs during the lockdown, businesses are struggling to meet the surging consumer demand. They say prices will come back down after wages go up, and people get back to work.
The New York Times says consumers should expect higher prices, longer wait times and delays in service.