Instacart’s CEO Is ‘Worried’ About Inflation of Food Prices
- Grocery costs have risen on the delivery giant’s app
- A long-awaited IPO could happen as soon as late this year
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Rising inflation is taking a bigger bite out of Americans’ food bill. For customers of grocery-delivery giant Instacart Inc., the cost of convenience is poised to get even more expensive.
Beef bourguignon is a Thursday-night dinner favorite for Chief Executive Officer Fidji Simo, who was born in France. But these days, the home-cooked meal doesn’t come cheap, especially when many of its ingredients -- from the beef and bacon to olive oil and flour -- have seen double-digit price increases compared with last year. Inflation has helped push the share of U.S. household disposable income spent on food in 2021 to the highest level in more than two decades.