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Expect high product prices amid pandemic, trade disruptions


Expect high product prices amid pandemic, trade disruptions
By:
Scripps National
and last updated 2021-04-23 14:08:24-04
More big-name companies say they re raising prices because it s costing them more to make their products.
“What I believe is that 2021 is lining up to be the worst year from an inflation standpoint for the past 30 years,” said Patrick Penfield, professor of supply chain practice at Syracuse University.
It’s not great news when it comes to what we ll be spending the rest of the year at grocery stores or online for everyday products.
“You’ve got kind of the perfect storm for price increases to happen in addition to all the product shortages that are happening right now,” said Penfield. “These guys in the logistics networks, they haven t had a chance to catch up and the demand. Just keeps coming. We re seeing record imports coming in now.” ....

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'Cuse Food Funder raises over $7,000 for Hendricks Chapel's food pantries


‘Cuse Food Funder raises over $7,000 for Hendricks Chapel s food pantries
Lucy Messineo-Witt | Asst. Photo Editor
Patrick Penfield, an SU senior, is one of the organizers for Cuse Food Funder, a fundraiser to raise money for Hendricks Chapel s food pantries.
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Instead of receiving gifts this year for her birthday on April 3, Syeisha Byrd, the director of the Office of Engagement Programs at Syracuse University, wanted people to donate to ‘Cuse Food Funder.
The virtual fundraiser for Hendricks Chapel’s food pantries started on March 24 and will run until April 23. Byrd, Dean of Hendricks Chapel Brian Konkol and SU senior Patrick Penfield are leading ‘Cuse Food Funder, which has raised more than $7,000 so far, $2,000 over its original goal. ....

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