What you need to know about the supply chain bottlenecks
Economy And Jobs,Supply Chains,Business,Consumers
Supply chain snarls and labor shortages are driving prices higher and creating shortages as the economy struggles to adapt to a new phase of the coronavirus pandemic.
After slashing prices and laying off workers at the onset of COVID-19, manufacturers, suppliers and retailers have struggled for months to meet the quick rebound in demand unleashed by unprecedented federal aid and highly effective coronavirus vaccines.
Consumer prices rose 0.4 percent in September and 5.4 percent in the 12 months leading into it, according to data released Wednesday by the Labor Department. Much of the September jump came from rising food, energy and shelter prices — an economically challenging mix for Americans with tight budgets and a politically toxic combination for President Biden and Democrats.
Deepening backlogs at ports and worker shortages at nearly every point in the supply chain have also left shelves depleted of popular products — just as Americans begin planning out their holiday purchases.
