Economic destructive inflation: Falling wholesale prices put squeeze on Maine lobstermen

The price lobstermen got for their catches hovered around $8 a pound in 2021, which they said was one of their best years ever, with a plentiful haul, high prices and stable costs. This year, however, is shaping up to be one of the worst Maine lobstermen have faced in decades, with prices falling to about half of what they were last year. Prices have dropped by half and wholesalers say demand also is down sharply as inflation has weakened the economy and hurt the market for shellfish. With consumers paying high prices to fill up gas tanks and to buy groceries, lobsters are a luxury that many cross off their shopping lists. Inflation is hitting lobstermen, too, particularly when they fill up fuel tanks before heading out to tend their traps. They say pretty much everything they need costs more this year, from fuel, oil and repairs for their engines to ropes and traps. Bait, too,,, photos, >click to read<

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