Some snippets from an FEE article and other sources it references:
“We are seeing very substantial inflation,” Buffet said at a Sunday shareholder meeting. “It’s very interesting. We are raising prices. People are raising prices to us and it’s being accepted.”
“We’ve got nine home builders in addition to our manufactured housing and operation, which is the largest in the country,” the investor continued. “So we really do a lot of housing. The costs are just up, up, up. Steel costs, you know, just every day they’re going up.”
“Food prices jumped 3.9 percent in 2020,” Hannah explained. “Unfortunately, this trend seems poised to continue. The US Department of Agriculture estimates grocery bills could increase by another 3 percent in 2021, while some experts are betting on even longer-term problems.”
She notes that meat prices increased 5.5 percent last year, while there was a whopping 11.3 percent increase in the price of fruits like apples and strawberries.
Food and housing inflation are just the beginning.
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