White House Weighs In As Grocery Prices Continue to Rise
White House Weighs In As Grocery Prices Continue to Rise
White House Weighs In As, Grocery Prices Continue to Rise.
ABC reports that since the onset of the pandemic, the cost of meat and other grocery products in the U.S. have steadily increased.
Those increases are expected to continue through the end of the year.
Now, grocery retailers and the Biden administration have weighed in on the issue.
Those increases are expected to continue through the end of the year.
Now, grocery retailers and the Biden administration have weighed in on the issue.
On September 10, Kroger CFO and senior vice president Gary Millerchip said the retailer will be, "passing along higher cost to the customer where it makes sense to do so.".
On September 10, Kroger CFO and senior vice president Gary Millerchip said the retailer will be, "passing along higher cost to the customer where it makes sense to do so.".
According to ABC, the nation's largest retail operator reported a year over year increase in produce, floral, deli and bakery sales.
According to ABC, the nation's largest retail operator reported a year over year increase in produce, floral, deli and bakery sales.
Last week, White House statistics showed that since December 2020, prices have surged on three main products.
Beef is up 14%, pork by 12% and poultry by 6.6%.
Beef is up 14%, pork by 12% and poultry by 6.6%.
Price increases are also driven by a lack of competition at a key bottleneck point in the meat supply chain: meat-processing, Biden-Harris administration, via ABC.
Price increases are also driven by a lack of competition at a key bottleneck point in the meat supply chain: meat-processing, Biden-Harris administration, via ABC.
According to the White House, the four large conglomerates that control a large part of the market for these products, "have been raising prices while generating record profits during the pandemic.".
According to the White House, the four large conglomerates that control a large part of the market for these products, "have been raising prices while generating record profits during the pandemic.".
The administration said it is, "taking bold action to enforce the antitrust laws, boost competition in meat-processing, and push back on pandemic profiteering that is hurting consumers, farmers and ranchers across the country.".
The administration said it is, "taking bold action to enforce the antitrust laws, boost competition in meat-processing, and push back on pandemic profiteering that is hurting consumers, farmers and ranchers across the country."