PA food supplier warns Americans getting squeezed by inflation are becoming 'resistant' to higher prices
Economy And Jobs,Food,Inflation,Business,Food Prices
As the Keystone State saw inflation last year dig deeper into residents’ wallets than any other state, one Philly-based food supplier is warning that the fight may not be over yet.
"We're concentrating all the time on having enough product and the right product for our customers," TMK Produce’s buyer-sales lead Mike Watson told FOX Business’ Jeff Flock during an appearance on "Varney & Co." Monday. "And, we can see that they're resistant to some of these higher prices as they continue."
"The volume may tighten up a little bit. It's what we see as our customers are buying more often, [but] less at each purchase," he continued.
The Philadelphia-based produce supplier has been caught between higher input costs and consumers struggling to pay for inflationary prices. According to ConsumerAffairs, Pennsylvania saw the highest grocery inflation rate of any state in 2023, at an 8.2% increase year-over-year.
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