Grocery prices are on the rise; blame America’s truck drive shortage

America’s trucking businesses are facing a driver shortage of epic proportions. In fact, according to an NPR report from January, the industry currently needs to hire approximately 900,000 new truckers just to keep up with the current demand. As more and more baby boomers reach retirement age, those numbers are expected to continue to rise, and that’s bad news for all of us.

“But what does the trucking industry have to do with me?” you might ask.

According to the American Trucking Associations, over 70% of goods are transported via 18-wheeler or semi, but without enough drivers to manage those deliveries, major retailers like Kellogg, Coke, and Hasbro are being forced to raise the prices of products. This isn’t necessarily the consumers’ fault, but it’s just part of doing business in today’s interconnected marketplace.

In order to keep up, CNN says many large businesses are having to turn to the “spot market.” That’s logistics speak for small and medium-sized transportation companies that can perform the work at a much higher price. While feasible for the time being, having to use this option quickly cuts into the profits a corporation can make. As you can imagine, board members and investors don’t want to see that happen.

If you notice that the prices of your favorite snacks continue to creep higher over the next few months, the current trucking climate is likely to blame. Here’s hoping the next generation sees the opportunity and benefits the trucking lifestyle provides. In the meantime, we’ll have to ride the wave.