Have you noticed that the price of bread has increased along with many bread-related items?
The reason is the Russian invasion of Ukraine. Although this conflict has now entered its fifth week, its impact on global supply chains has been severe. (source)
Robb Mackie is the president of the American Bakers Association. He said, “Unfortunately for the short and intermediate-term, food inflation and the cost of baked goods in the United States will go up more. This will impact the most vulnerable in our society the most.”
Costs are going to impact much more than just bread according to Newsbreak.
February’s overall inflation rate was 7.9% compared with a year earlier, the highest level since 1981 (source). Nonetheless, even that figure doesn’t tell the full story. There has been a dramatic increase in California’s gas prices and housing costs. Eventually, every aspect of the economy is going to be impacted as prices rise in more areas.
The Question Then Becomes, What Can Be Done?
First, you can save money by being an informed, prepared shopper. Second, you can ensure that you receive the full amount of stimulus payments that you are entitled to. Do you know that there is a Golden State Stimulus (two payments, not one) available to California residents? Your income level determines the exact amount. Also, you have access to billions of dollars in government funding for your rent or mortgage.