A shortage of experienced truck drivers across the United States is raising transportation costs, which in turn is increasing the prices of some goods, says a recent report in the Washington Post.
The report cites the case of a Minnesota trucking company, which one year ago could promise customers their goods would be on the road in a day or two. Now the CEO warns customers it could take two weeks to get their shipment moving, because of how difficult it has become to find available trucks and drivers.
The rise in transportation costs indicates more than a strong economy; it’s a sign things could actually be on the verge of overheating.
· The recent 20 per cent hike Amazon levied for its Prime program two-day delivery.
· General Mills says some of its cereals and snacks will cost more thanks to transportation cost increases.
· Meat seller Tyson Foods also blamed higher shipping costs for a forthcoming price increase.
Read the full article here.
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