Inflation has hit all Americans hard during the Biden-Harris administration. It’s about to hit employees at a Lamb Weston plant in Connell, Washington, too.
From Yahoo:
“A major french fry supplier is cutting jobs as customers continue to count their pennies amid inflated prices at fast-food chains.
Lamb Weston, the largest producer of french fries in North America, announced last week it was closing its plant in Connell, Washington, meaning 375 employees, or 4% of its workforce, would be laid off, according to an earnings report released last week.
“Restaurant traffic and frozen potato demand, relative to supply, continue to be soft, and we believe it will remain soft through the remainder of fiscal 2025,” Tom Werner, Lamb Weston president and CEO, said last week on an earnings call.
Fast-food chains have felt the consequences of inflation as cash-strapped customers have been more careful about patronizing many restaurants. A survey in May revealed that 80% of Americans considered fast food to be a “luxury” because of high prices.”
Read the whole story here.
Inflation has hit us hard, indeed. According to a CBS News price tracker report from last month, since 2019 to to August 2024 potatoes (by the pound) have increased by 34%, a dozen eggs by 126%, and a loaf of bread by 54%. These price increases are unsustainable for the average American.
Remember wisely as you vote next month. Because things could get much, much worse:
DCG