TAMPA, Fla. — Leading up to the holiday season of 2021, there was a lot of buzz about how many gifts and items needed for a big holiday celebration were in short supply, and if they were available, they'd be more expensive than usual.
It turns out, those supply chain and pricing woes are expected to continue for at least the next few months.
"Some of the industries consumers will notice these impacts the most in are cars, electronics, gadgets and toys because of the semi-conductor and microchip shortage. It will also impact the medical industry and research because they need those things too," explained Yoni Mazor, the co-founder of Getida, a company that helps companies audit their sales.
He says many of the companies he works with are continuing to work through some of these supply shortages.
That short supply is driving up prices, from food to technology which means you won't see lower prices any time soon. "Inflation is like a wild beast, once you take it out of the cage it's not so clear how you tame, it catch it and put it back...So no one knows where it's all going and where it's continuing and it'll go on for at least 12 months if not more," said Mazor.
To avoid spending tons of money on the things you need, Mazor suggests doing a little research before buying. Compare the prices for things you need at multiple stores and see which stores are offering the best deals.
If it's a larger purchase, like a car or appliances, if you can, he says you should wait until companies can restock and aren't charging as much for their limited supply.