Feb. 12, 2019 is a day that will live on in the annals of American industry. Because it's the day we finally learned - thanks to a repoert in the Wall Street Journal - that Jeff Bezos (and, presumably, his investors) tolerance for loss-making businesses does have its limits.
According to emails obtained by the paper, Amazon-owned Whole Foods Market raised prices this month on dozens of items ranging from Dr. Bronner’s soaps to Häagen-Dazs ice cream. These prices hikes followed increases on another 55 items, including crackers, olives and cookies, according to an email from December. The reason for the price hikes? As we have previously reported, Clorox, Coca-Cola and Mondelez are just a few of the producers of consumer products, snack foods and beverages who were preparing to raise prices. According to figures cited by WSJ, nearly half of 52 consumer-goods manufacturers surveyed recently by consulting firm Acosta raised prices last year.
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Maybe the Fed was right - there IS inflation on the horizon.
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