A proposed inquiry would "shed light" on why grocery prices remain so high
  • Capt. Wolf@lemmy.world
    62·
    2 months ago

    A proposed inquiry would “shed light” on why grocery prices remain so high

    Greed…

    The answer, as for so many others, is greed.

    • Pistcow@lemm.ee
      13·
      2 months ago

      worked for a food distrobutor during covid and they had a meeting about jacking up prices on covid supplies and all other items. At the time I said the covid supplies was a big issue. Nope, full steam ahead. I even did a whistlr blower complaint to the FTC with all the documents. Nothing ever came of it.

      • Tujio@lemmy.world
        9·
        2 months ago

        My work magically got a supply of N95 masks early in Covid. It was unexpected, so we didn’t have a plan or a system for them. Didn’t think to have a limit or anything.

        A crew from Albert Lee bought every single one, took them back to their store, and sold them at 100% markup.

    • Empricorn@feddit.nlEnglish
      4·
      2 months ago

      I was at the grocery store yesterday. A single shrinkflation Hershey’s bar was $2.49. Some prices have doubled in 1-5 years… Are you fucking kidding me!?

  • return2ozma@lemmy.worldOP
    24·
    2 months ago

    On Thursday, during a virtual public meeting hosted by the FTC and the Department of Justice, Khan said the probe would “shed light” on why prices and profits at grocery chains “remain so high even as costs appear to have come down.”

    "We want to make sure that major businesses are not exploiting their power to inflate prices for American families at the grocery store,” she said.

    Khan plans to formally ask the FTC to launch an inquiry, but the process will only proceed if the commission votes in favor of it. Should the inquiry gain approval, the agency would require big grocery chain operators to provide information on their sales, costs, and profits for commonly purchased items.

  • conditional_soup@lemm.ee
    10·
    2 months ago

    It’s my understanding that grocers themselves tend to operate is miserably thin margins, especially when they don’t have the kind of leverage of large, national chains. I know someone whose family operated a community grocery and they were actually relieved when the building caught fire. They didn’t depend on the income, it was just something they took over to serve the community, and it ended up feeling like an anchor around their neck. Seems likely that this is largely an issue that lies with the food producers.

    • Talaraine@fedia.io
      11·
      2 months ago

      My father says the same thing about the slim margin of oil companies. That being said, when that slim margin is in the billions and millions of people suffer for it, there’s room for inquiry.

    • Empricorn@feddit.nlEnglish
      4·
      2 months ago

      “high grocery prices”

      I don’t think most people are specifically targeting retailers, who make very little percent per item, as you said. But manufacturers were raising prices before the pandemic, during it, and now…

  • eestileib@sh.itjust.works
    1·
    2 months ago

    She spent all her money on the dozen yards of fabric it took to make that jacket, of course she can’t afford groceries!

    (I kid I kid I love this woman and hope she keeps winning)