(August 29, 2024 at 9:58 pm)Fake Messiah Wrote: One of America's largest grocers just admitted they jacked up the price of food staples just because they could and not because of inflation.
Quote:Atop company leader at Kroger has admitted during an antitrust trial the company gouged prices on select items above inflation levels.
While testifying to a Federal Trade Commission attorney Tuesday, Kroger's Senior Director for Pricing Andy Groff said the grocery giant had raised prices for eggs and milk beyond inflation levels.
"This is not at all surprising," Drew Powers, the founder of Illinois-based Powers Financial Group, told Newsweek. "Companies across multiple industries have been posting record profits since the COVID-19 crisis while consumers have faced the highest inflation in recent history. The math can only point to companies raising prices above the general level of inflation. As the old saying goes, 'Never let a good crisis go to waste.'"
https://www.newsweek.com/kroger-executiv...on-1945742
Only surprising thing in it is the fact that they admitted to price gouging.
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