Helping You Deal With Rising Prices
Jul 27, 2021
Sticker shock is a common experience in a car showroom or on the lot of a tractor dealership. But in a grocery store? The average loaf of bread is ringing up at about $2.50, a far cry from the price even 10 years ago when that loaf was $1.48. The consumer price index bears out what you’re likely seeing firsthand, indicating that prices increased 5.0% from May 2020 to May 2021. The U.S. Bureau of Labor Statistics points out that food prices advanced 2.2%, while energy increased 28.5%. Costs for all items — less food and energy — rose 3.8% for the year ending in May 2021, the largest 12-month increase since June 1992. Rising costs across the board are causing families to go without or seek purchase alternatives.
While consumers are paying more for goods and services, manufacturers are being hit with similar increases. The Wall Street Journal reports that the producer price index, a measure of the prices businesses receive for their goods and services, rose 1% this March. The inflation measure ended March up 4.2% from a year earlier, the biggest 12-month gain in a decade. With the supply of U.S. dollars having increased by $5 trillion, or about 30% over the past 18 months, all indications are that the price of doing business will continue to climb.
At Lindsay, the increasing costs for raw materials, transportation, fuel and labor are forcing us to strengthen our supplier negotiating skills, implement input cost-cutting measures and explore sourcing options. In addition to these proactive internal strategies, we’re taking steps to help you get a good deal despite skyrocketing prices.
Lock It In
Our “Lock It In” summer sales event is just one way we’re helping our customers maximize their ROI. We’re offering some of the highest rebates of the past year to help you lock in prices now, taking advantage of historically low interest rates. At the same time, you can lock in a delivery date to ensure you’re up and irrigating next spring. This is a limited time offer, so don’t wait to buy!
Considering what’s going on in the marketplace, there’s no better time than now to lock in the equipment you need for the next growing season.
Contact your local Zimmatic dealer for details or visit Zimmatic.com.
*U.S. and Canada only.