NORTHAMPTON, Mass. (WWLP) – The rate of inflation hit a 40 year high earlier this year and it’s impacting everyone from sellers to consumers.
When the rate of inflation rises, no one is immune. 22News spoke with Nate Clifford, the co-owner of Cornucopia, a natural food market located in Thornes Marketplace. He said they are trying to balance keeping prices low for customers while still making a profit.
Higher fuel costs have had a ripple effect on virtually all goods, meaning businesses have to pay more to stock the shelves and have to charge customers more to make a profit.
Clifford said the current economy is impacting business, “It took a while to get to us but certainly we are seeing it across the board in the grocery department. We try to put the price up only when we see it as a sustained price increase, we will eat some of those costs and eat some of that margin, but we obviously need to make a certain amount to survive. ”
Clifford says that Cornucopia is more competitive with the pricing of natural food chain stores than people might think. The market belongs to groups that purchase goods as a block with other small retailers, this way it’s able to keep prices competitive.
Clifford says they’re seeing price increases in body care and supplements as well.