Bull crap. Let's see the statistics to back that up.
Supermarket chains have a profit margin of around 1%. So, if everyone only spends a buck or two, then the "one or two cents" statement would be true.
I can’t back up this up, but I thought I read it was more like 3 to 4 cents per ITEM.
I work directly with Super Market chains. It’s well known that their profit margins are about that low to anybody that works in that industry.
It’s why Mom & Pop’s don’t survive long against behemoth’s like Walmart, Kroger, Safeway, and Publix.
If this trend continues (and it will), you’ll start to see prices skyrocket even more.