Local businesses throughout the state of Utah have been hit hard by the ongoing spike of inflation rates.
Take Caputo’s Market and Deli in downtown Salt Lake City for example, a local business that gets about 50% of their foods from oversea shipments. Describing how hard inflation has impacted his business, Matt Caputo, owner of the deli, gave an example about a bulk batch of chips that used to cost $3,000, saying that the current price for the same bulk would be $18,000.
Running his own metrics on the food he sells, Caputo says that his costs have gone up 20 to 30%, but raises prices have gone up by about 8%.
But it’s not just Caputo’s Market and Deli that has been affected by the spiking inflation rates. Businesses throughout the entire state have been struggling with the rising rates of inflation. Many businesses, including Caputo’s Market and Deli, have been forced to reprice their items to keep up.
Currently, the White House says that the impact on energy prices is a big thing to blame when it comes to the rise in inflation.
