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Retail giant Costco is now limiting purchases of household staples like toilet paper, paper towels, and bottled water due to the inflation surge and breakdowns in the global supply chain.
Spikes in international shipping costs due to COVID and the “inflationary environment” created under the Biden administration are driving up commodity costs and shortages, according to Costco Executive Vice President and Chief Financial Officer Richard Galanti.
Galanti explained during a conference call Thursday how the company has been dealing with supply-chain breakdowns and inflation in the last few months.
“From a supply chain perspective, the factors pressuring supply chains and inflation include port delays, container shortages, COVID disruptions, shortages on various components, raw materials and ingredients, labor cost pressures and trucker and driver shortages — trucks and driver shortages,” Galanti said.
“Domestically, anecdotally rather from a — even on a domestic side, various major brands are requesting longer lead times. Some cases difficulty in finding drivers and trucks on short notice. Lead times on ingredients and packaging have been extended in some cases.”
“Also we’re putting some limitations on key items like bath tissues, roll towels, Kirkland Signature water, high demand related SKUs related to the uptick in the Delta related demand,” he added.
As we’ve reported, the supply chain breakdown is the result of deliberate government policies that weaponize welfare to incentivize people not to work in the name of fighting COVID spread.
Governments around the world are still adhering to the World Health Organization and World Economic Forum template of lockdowns, capacity limits, and vaccine mandates which causes the shortages of workers that snowball into worldwide supply chain disruptions.
Additionally, the endless money-printing by the Federal Reserve over the last 18 months is putting enormous economic pressure on companies to raise prices.
This is the Great Reset in action.
Alex Jones breaks down the globalist plan backed by the UN to collapse first-world borders to collapse societies ahead of The Great Reset takeover.
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