WASHINGTON (AP) – Since the pandemic erupted two years ago, Forest Ramsey and his wife, Kelly, have held the line on prices at their gourmet chocolate shop in Louisville, Kentucky. Now, they’re about to throw in the towel.
In the past year, the costs of ingredients for their business, Art Eatables, have surged between 10% and 50%. The Ramseys are paying their employees 30% more than they did before the pandemic.
And in the face of supply shortages, their packaging costs are up. They’ve begun using 12-piece trays in their eight-piece chocolate boxes because they can no longer get any eight-piece trays.
So having just tried to survive for the past two years, the Ramseys, who own three retail outlets and sell custom chocolates to about 25 bourbon distilleries, have reached an unpleasant decision: They’re going to raise their customer prices 10% to 30%.
“We’ve got to adjust this – we can’t afford to keep taking the hits anymore,” Forest Ramsey said.