Shortage of Truck Drivers Lifts Grocery Prices
The lingering shortage of long-distance truck drivers is raising grocery prices as major food companies grapple with increased shipping costs.
In an analysis released Monday, John Kearney, CEO of St. Petersburg, Fla.-based Advanced Training Systems (ATS), which makes virtual simulators for driver training, noted that higher freight and ingredient costs were behind recent announcements by Mondelez, Hershey, Nestle, Unilever and Coca-Cola that they will need to hike prices in 2019.
“They don’t really have any choice. The cost of shipping just keeps going up,” Kearney said in his report. “A major factor in this is the driver shortage. There just aren’t enough people in the long-haul trucking workforce to get all these loads delivered...
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