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Grocery store sticker shock shows ‘light at the end of the tunnel’: Stew Leonard
Supermarket sticker shock showing ‘positive signs’: Stew Leonard
Stew Leonard’s president and CEO Stew Leonard says suppliers have started splitting rising transportation costs, and that the supply chain is ‘smoothing out.’
While new data from the Farm Bureau found that Americans could be paying up to 17% more for their favorite cookout items this Independence Day, one supermarket CEO provided sticker shock relief on "Mornings with Maria" Thursday.
"Our margins are down at Stew's, but you know what?" Stew Leonard told FOX Business’ Maria Bartiromo. "We see the supply chain smoothing out a little bit right now. There is some light at the end of the tunnel here."
"We're seeing meat prices now have come down a little bit, lobster prices have come down," the grocer continued. "So you're starting to see some positive signs."
Leonard’s comments come on the same day as the Federal Reserve’s favorite inflation gauge fell to 4.7% from 4.8% in May. While it marks the third straight month of slower growth, it remains near a 40-year high.
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Though the core PCE report might signal inflationary pressures are easing, it excludes rising fuel and food costs, which, according to Leonard, has been divided amongst the supermarket and its suppliers.