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.”
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(Excerpt) Read more at news4jax.com ...
They have nothing but finger pointing and blame for the numb nuts who believe as the deliberately murder America
It’s too early for logical thinking dude.
“Yeah, and with greed only have been invented in 2021 and all....”
Exactly, for 40 years companies were no greedy but when Biden was elected they become greedy. Uh Huh.
Inflation was low during the pandemic, because demand was down and fuel prices were down. They can’t even concoct fake news right.
It’s not the stores, it’s the conglomerates. Their volume increased dramatically during COVID. They did not chase this increase with extra capacity and smaller producers did not have the capacity to steal the sales. The conglomerates made great margins, while streamlining their product assortments— less work, more money.
This is only a piece of the inflation we are seeing. Fuel prices are probably a bigger piece of the increases.
Grocery prices are higher due to one thing Biden’s inflation along with everything else.
His bonus round massive spending that will be costly for years to come.
Some see the increased profit totals without understanding “Profit Margins”. With the current “sticky” prices, industries need more now to pay the higher prices later.
In 2020, what cost a $1 now costs $1.20. Some things are even higher. I saw a product that in 2020 cost $1. It is now $2.50. Other items have shrunk in size but still cost the same as in 2020.
Bidenomics in action.
I think any legitimate investigation will find it’s not the producers or the retailers, it’s the middlemen, the wholesalers and distributors.
Governmental printing press money would be called, in the real world, counterfeiting.
And they didn’t want it to go away and they’ll do it again.
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