Well its already begun. Our company has received notice from our suppliers that cost of packaging film and trays will go up another 5% effective immediately. This is a second jump in 6 months...With our low margin of profit we have no option but to transfer this raise in prices to our customers, who are btw all the major players in meat and poultry packaging industry.
Expect a rise in prices of everything from ground beef to turkey and chicken products. I'm sure this is also being done with the rest of the industries. Profit margins on a pound of beef for the meat supplier/packager is 2c, no way in hell will they eat the increase in cost.