Harris Plans to Ban Grocery ‘Price Gouging.’ What Does the Evidence Say?

The New York Times ^ | Aug. 15, 2024Updated Aug. 16, 2024, 6:57 a.m. ET | Jim Tankersley and Jeanna Smialek

[E. Pluribus Unum]

In detailing her presidential campaign’s economic agenda, Vice President Kamala Harris will highlight an argument that blames corporate price gouging for high grocery prices.

That message polls well with swing voters. It has been embraced by progressive groups, which regularly point to price gouging as a driver of rapid inflation, or at least something that contributes to rapid price increases. Those groups cheered the announcement late Wednesday that Ms. Harris will call for a federal ban on corporate price gouging on groceries in an economic policy speech on Friday.

But the economic argument over the issue is complicated.

Economists have cited a range of forces for pushing up prices in the recovery from the pandemic recession, including snarled supply chains, a sudden shift in consumer buying patterns, and the increased customer demand fueled by stimulus from the government and low rates from the Federal Reserve. Most economists say those forces are far more responsible than corporate behavior for the rise in prices in that period.

Biden administration economists have found that corporate behavior has played a role in pushing up grocery costs in recent years — but that other factors have played a much larger one.

The Harris campaign announcement cited meat industry consolidation as a driver of excessive grocery prices, but officials did not immediately respond on Thursday to questions about the evidence Ms. Harris would cite or how her proposal would work.

[E. Pluribus Unum]

Demorat SOP; punish the innocent, reward the guilty.

[Reno89519]

Communist price controls, just what we need, centralized planning our our economy down to what we can buy and at what price.

[where's_the_Outrage?]

I believe one of the biggest causes of price increases is energy costs. Fuel costs went up sometimes +300% after Biden took over, as that snowballed into inflation.

[E. Pluribus Unum]

I believe one of the biggest causes of price increases is energy costs. Fuel costs went up sometimes +300% after Biden took over, as that snowballed into inflation.

The end of "fossil" fuels is the end of food.

[bray]

If you think prices are high now, wait til the gummit controls them.

[wiseprince]

Exactly what should a bagel cost on 2027?

[Pox]

A lame ass attempt to deflect from the truth that the current administration is the root cause of our current inflation and price hikes.

Of course idiots who only believe what they are told to believe encourage this nonsense, along with economically ignorant freeloaders eager for more handouts which is how Chavez rose to power to ruin Venezuela.

[fwdude]

If you think prices are high now, wait til the gummit controls them.

Prices of food, if you can find any.

[1Old Pro]

Trump is right, she is stupid and she does want to further destroy America.

[jeffc]

I used to do most of my shopping at Publix, but now shop mostly at Walmart.

I go early in the day when there are the fewest shoppers (not to mention, old folks like me, who don't yell at all the workers when we don't get our way, and those who constantly block aisles).

I still go to Publix for their meat, bakery, and deli. And it is a much cleaner and neater store with a higher class of shoppers...

[cnsmom]

The Democrats will have us eating pets and zoo animals at this rate.

[ABStrauss]

Publix, for local example, makes under 1.5% profit, gas stations make less.

These democrat candidates are the epitome of evil and need to be tossed into the dust bin of history.

Electing garbage like Hairass and walz is t suicide.

[econjack]

...Harris will call for a federal ban on corporate price gouging on groceries...

What's the exact metric for measuring "gouging"? Does anyone else get nervous when the gov't can decide who gets punished with no metric in place?

[damper99]

No evidence needed as long as the media polishes this as a grand idea and policy.

[bray]

Is she going to be the Food Czar now?

[dynachrome]

The low IQ voters will be wetting themselves in excitement.

[joshua c]

people will pay anything for that last loaf of bread

[Salman]

The Dems want shortages, and this is part of the same enterprise as the war on farmers.

[bobbo666]

It all comes down to $$ printing. That is the source of all inflation, the rest is window dressing. Kamala, like the PedoPres is commie trash. Price controls are the way to cull the population.

[joshua c]

gouging will be inversely proportionate to the donations to dems