The people of Germany awoke to food hyperinflation today, with retail grocery prices suddenly spiking 20% – 50% in just one day, reports Reuters. The story was covered by Zero Hedge as well, which reported, “Recently, popular retail chains such as Aldi, Edeka and Globus announced that they would be forced to raise their prices. At Aldi, meat and butter will be “significantly more expensive” from Monday due to price hikes from its suppliers.”The first areas to be hit are the Middle East due to their geographical proximity to Ukraine and Russia.
Western Europe will suffer the impact over the next 3-4 months, with food scarcity to be sustained for at least 18 months following.
The United States, Canada, Australia and other nations on different continents will feel the effects in the second half of 2022, continuing well into 2023 and likely continuing through 2024. Importantly, this provides a very narrow window of opportunity for North Americans to stock up on food before the scarcity strikes.