University of New Haven finance, economics professor weighs in on supply chain disruptions across the country

New Haven

WEST HAVEN, Conn. (WTNH) — At the beginning of and during the height of the pandemic, people stayed at home and did not want to go anywhere, so companies scaled back on production. Now things are back open, but some items are hard to find.

Supply chain disruptions are now driving up prices and leading to a shortage of goods from coast to coast. Experts say Americans should expect to keep paying more, even at the grocery store. Eggs and meat are reportedly 12% more than they were a year ago.

It’s not just groceries. This year has seen record-breaking price gauges for kids’ shoes and furniture. Even going out to dinner can cost you over 5% more than last year.

“We’re definitely in for a rocky few months and it’s going to continue,” said David Sacco, a professor of finance and economics at the University of New Haven.

One of the major issues at hand now is finding workers to keep up with the demand in such a short time as the holiday season approaches.

“People saved a lot of money last year and now they’re spending it this year and what we’re categorizing as these supply chain issues is just the abilities of companies to ramp back up to the production levels they had before the pandemic or the production levels they need now with this increased demand,” Sacco said.

When it comes to holiday shopping, Sacco said you might want to shop local, see what’s in your town and scale back on buying this year.

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