The average price of butter in August jumped 24.6% compared to a year ago, U.S. labor statistics show. Here’s what is driving the increase.
There are three factors that could lead to inflation which include demand-pull inflation, cost-push inflation and built-in inflation.
On average, butter prices reached $4.77 per unit in the four-week period ending Aug. 27, which is also the most expensive butter has been since 2017, the Wall Street Journal reported.The timing is not ideal, as the winter holidays are also peak baking season for many Americans and butter is in higher demand. Joe Coote, chief executive of Washington-based Darigold Inc., a major U.S.
Starting in 2021, AMPI has struggled to fully staff evening shifts at its butter plant in New Ulm, Minnesota, which has cut the number of production lines it can run, the Wall Street Journal reported.
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