Posted on 03/23/2024 5:58:54 PM PDT by yesthatjallen
A new report from the Federal Trade Commission suggests grocery giants used inflation and supply chain disruptions during the pandemic to drive their profits and keep raising prices.
Now, the agency is urging Congress to take a closer look into grocery profits.
The data shows food prices in the United States spiked 11% between 2021 and 2022, the largest annual increase in over 40 years.
News4JAX asked local consumers about their current spending Friday.
“Everything. Everything. Everything that I can think of that I need, you know, it’s expensive,” a consumer said.
The prices at the grocery store are high.
“I find fruits and vegetables and the things we need the most are the most expensive,” a consumer said.
The report from the FTC revealed prices might even be higher than they should be with grocery store chains like Walmart exploiting COVID-19 product shortages to raise their prices.
“It’s all about big business. The little people don’t count,” a resident said.
The report reads: “Some firms seem to have used rising costs as an opportunity to further hike prices to increase their profits, and profits remain elevated even as supply chain pressures have eased.”
SNIP
(Excerpt) Read more at news4jax.com ...
Actually it is the Biden Trainwreckonomy.
It's obvious that the grocery industry, that operates on razor-thing margins, is greedy.
It's about 'deflection.' Deflection of disapproval of Biden's tyrannic regime's disastrous handing of the economy, our borders and its pandering to every woke victim and leftist issue group who votes. They'll use every excuse in the book to blame and deny and throw anybody under the bus to shift the blame away from them.
Yeah, and with greed only have been invented in 2021 and all....
What do you know about inflation? Milton Friedman famously said: “Inflation is always and everywhere a monetary phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.” Of course, we all know the driver of the quantity of money is government spending priorities, and recently the government has been spending a lot. So what does that mean for the American people? On this episode, we talk about the basics of inflation, what it means for your pocket book, your gas tank, and your grocery bill. This episode shows what happens when too many dollars chase too few goods.
TL;DR:
Inflation is always and everywhere a monetary phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.
exploiting COVID-19 product shortages to raise their prices.
It’s global warming. It even causes STD’s.
taxes go up on land, land cost more, seed costs more, equipment needed to plant and harvest costs more, labor costs more, truckers needed to transport cost more, and then repeat at every step of the process from farm, to factory, to store.
= higher prices
and it’s ALL because of how LIBERALS over reacted to covid.
Just like Big Oil is stealing by providing a necessary product.
Biden increased the cost of energy - that is “the collateral damage” caused by Biden summarily dictating the fate of many fossil fuel processes.
The political class throwing the corporate class under the bus.
Givernnental greed is causing all of it .
Crazy as it sounds, they finally got smart and offer TWO to a pack now for about $35.
But Charmin toilet paper has risen to $30 for a 30 roll set...was just $19.99 last Summer.
Never mind that government collects far more taxes per gallon than Big Oil makes in profit.
Same with Big Tobacco.
Shut the FTC down, it’s of no furthur use.
Blaming companies for marxist leftist failures is what we see here.
So who in the Biden brain trust called the FTC to go public with this line of BS?
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