Post by barb43 on May 17, 2021 2:06:57 GMT
Your Memorial Day is about to get a lot more expensive. From hot dogs to fuel, here are some of the products in short supply.
Here's a look at the current state of affairs across the country, and a little bit internationally.
Everywhere you look, there seems to be a new shortage popping up in America's currently very strange economy. From chicken to gas, it's getting harder to come by items as supply-chain issues, outsized demand, and the climate crisis all converge to choke accessibility.
With a long weekend coming up, Americans are ready to get back into the world. But the economy may not be ready for them: Here are the shortages that could plague Memorial Day weekend.
Vacation homes
If you haven't rented out a vacation home yet, it might be too late to find one this year: 85% of vacation rentals in Cape Cod, the Outer Banks, and along the Jersey shore, are booked through August, Vrbo said.
Hotels and motels
CNBC reports that nightly prices are on the rise, and are likely only to increase as summer travel goes into full swing. In fact, prices in coveted areas, like beaches, have soared above pre-pandemic levels.
Fuel
Americans looking to hit the road for Memorial Day weekend will face soaring gas prices. Fallout from a cyberattack on the nation's largest fuel pipeline devastated the supply chain, pushing the average price in the US over $3 per gallon. The 5,500-mile oil pipeline reopened on Thursday, but Reuters reported it could take weeks for fuel supply to return to normal, after consumers rushed to stock up on gasoline over the week.
A new or used car
New cars are in short supply due to an ongoing shortage of the computer chips that power everything from the Bluetooth in cars to iPads, and their scarcity has been felt all over the economy. Some car manufacturers had to halt production at the start of the year, leading to more elusive models and higher prices.
That's trickled down into the used-car market. In April, used car prices jumped by 10%. ... There are additional transportation issues as well: The rental car market is up in price and down in available units to rent, depending on where you are. Uber and Lyft prices are up and the number of available drivers is down since the pandemic.
Airfare
If you're planning on jetsetting over Memorial Day weekend, you may find the shockingly low flight prices of the pandemic have vanished.
In April, airline fares increased by 10.2%, according to the Bureau of Labor Statistics.
Bacon and hot dogs
Memorial Day barbeques will be impacted by the supply snags.
Bacon and hot dogs may be difficult to find in grocery stores, due to a global pig shortage. Demand will likely outstrip supply as people stock up on the meat for cookouts on Memorial Day weekend.
Fireworks
It will be more expensive to celebrate the holiday with fireworks this year.
Superior Fireworks announced they were increasing their prices about 15% this year — the highest the company has ever had to hike prices in its 20-year history.
The company is one of many fireworks producers that have been forced to raise prices in order to compensate for higher shipping and production costs.
Chlorine
Vacationers looking to relax in the pool during the holiday weekend may face difficulty finding clean pools.
Last month CNBC reported the US is facing the worst chlorine shortage in history. Prices for the chemical used to clean pools has nearly doubled this past year and is only expected to continue to rise with warm weather.
Imported goods like wine and cheese
Vacationers will pay top dollar for imported food, and even for some good old American favorites.
Goods from overseas, including seafood, cheese, and wine are facing months of shipping delays. Some grocery stores, including Costco have already reported shortage of imported food, while other companies have already begun to hike prices in response.
Last month, Coca-Cola and General Mills announced they were raising their prices.
Restaurant service
People looking to eat out over the holiday weekend may find difficulty getting service at local restaurants.
Major labor shortages have rocked the restaurant industry. After laying off millions of workers at the onset of the pandemic, many restaurants are struggling to bring workers back as they reopen.
www.yahoo.com/news/memorial-day-lot-more-expensive-123000051.html
Here's a look at the current state of affairs across the country, and a little bit internationally.
Everywhere you look, there seems to be a new shortage popping up in America's currently very strange economy. From chicken to gas, it's getting harder to come by items as supply-chain issues, outsized demand, and the climate crisis all converge to choke accessibility.
With a long weekend coming up, Americans are ready to get back into the world. But the economy may not be ready for them: Here are the shortages that could plague Memorial Day weekend.
Vacation homes
If you haven't rented out a vacation home yet, it might be too late to find one this year: 85% of vacation rentals in Cape Cod, the Outer Banks, and along the Jersey shore, are booked through August, Vrbo said.
Hotels and motels
CNBC reports that nightly prices are on the rise, and are likely only to increase as summer travel goes into full swing. In fact, prices in coveted areas, like beaches, have soared above pre-pandemic levels.
Fuel
Americans looking to hit the road for Memorial Day weekend will face soaring gas prices. Fallout from a cyberattack on the nation's largest fuel pipeline devastated the supply chain, pushing the average price in the US over $3 per gallon. The 5,500-mile oil pipeline reopened on Thursday, but Reuters reported it could take weeks for fuel supply to return to normal, after consumers rushed to stock up on gasoline over the week.
A new or used car
New cars are in short supply due to an ongoing shortage of the computer chips that power everything from the Bluetooth in cars to iPads, and their scarcity has been felt all over the economy. Some car manufacturers had to halt production at the start of the year, leading to more elusive models and higher prices.
That's trickled down into the used-car market. In April, used car prices jumped by 10%. ... There are additional transportation issues as well: The rental car market is up in price and down in available units to rent, depending on where you are. Uber and Lyft prices are up and the number of available drivers is down since the pandemic.
Airfare
If you're planning on jetsetting over Memorial Day weekend, you may find the shockingly low flight prices of the pandemic have vanished.
In April, airline fares increased by 10.2%, according to the Bureau of Labor Statistics.
Bacon and hot dogs
Memorial Day barbeques will be impacted by the supply snags.
Bacon and hot dogs may be difficult to find in grocery stores, due to a global pig shortage. Demand will likely outstrip supply as people stock up on the meat for cookouts on Memorial Day weekend.
Fireworks
It will be more expensive to celebrate the holiday with fireworks this year.
Superior Fireworks announced they were increasing their prices about 15% this year — the highest the company has ever had to hike prices in its 20-year history.
The company is one of many fireworks producers that have been forced to raise prices in order to compensate for higher shipping and production costs.
Chlorine
Vacationers looking to relax in the pool during the holiday weekend may face difficulty finding clean pools.
Last month CNBC reported the US is facing the worst chlorine shortage in history. Prices for the chemical used to clean pools has nearly doubled this past year and is only expected to continue to rise with warm weather.
Imported goods like wine and cheese
Vacationers will pay top dollar for imported food, and even for some good old American favorites.
Goods from overseas, including seafood, cheese, and wine are facing months of shipping delays. Some grocery stores, including Costco have already reported shortage of imported food, while other companies have already begun to hike prices in response.
Last month, Coca-Cola and General Mills announced they were raising their prices.
Restaurant service
People looking to eat out over the holiday weekend may find difficulty getting service at local restaurants.
Major labor shortages have rocked the restaurant industry. After laying off millions of workers at the onset of the pandemic, many restaurants are struggling to bring workers back as they reopen.
www.yahoo.com/news/memorial-day-lot-more-expensive-123000051.html