Revenues up, profits down: ‘Greedflation’ isn’t a thing in Minnesota
Yesterday, the Star Tribune reported that “the 50 largest public companies in the state [ranked] by revenue…saw revenue increase 7% to a total of $750.7 billion” in 2022. But, as…
In the year to July, prices rose by 8.5%. This was down from the 9.1% increase in the year to June, but it is a high rate which continues to squeeze American’s incomes. Even the State Fair isn’t immune.
Last week, Kare 11 reported:
Some Minnesota State Fair vendors are increasing prices to combat inflation and rising food costs.
It is a State Fair staple— deep-fried candy bar topped with a sprinkle of powdered sugar.
“It’s amazing. There’s just no words to explain. It’s so good,” Beth Tapp, Deep Fried Candy Bars manager, said.
For 16 years, customers have lined up for deep-fried candy bars at the Minnesota State fair. Tapp manages the booth and she said this year came with challenges.
“Order in advance and hope and pray you can get all your items,” Tapp said.
Last year, deep-fried candy bars were $5. This year they’re $6. Tapp said raising food costs forced the company to increase the price to keep up with inflation.
That is a 20% increase over the year.
It’s the same deal for another fan favorite— deep-fried pickles.
Last year, a regular order was $8, but this year it is $9.
That is an increase of 12.5% over the year. Worst of all, perhaps:
The beloved bucket of Sweet Martha’s cookies also costs an extra buck. Last year it was $18, this year it is $19.
“We did have some price increases with our cost of goods so there’s some of that reflected,” Martha Rossini, Sweet Martha’s cookies founder, said.
That is an increase of 5.5% over the year. Even at The Great Minnesota Get-Together you get no respite from the ravages of inflation.
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