Against Harris’ plan to ban food price gouging

Inflation is a central issue in this presidential campaign, and Vice President Kamala Harris is seeking to counter Republican attacks with a plan to combat what she sees as excessive grocery price pressures.

Although inflation is slowing, according to the U.S. Department of Agriculture, consumers still spend about 11 percent of their income on food – the highest rate in 30 years.

The ministry expects food prices for home use to rise by 1% this year, down from last year’s 5% increase.

Vice President Kamala Harris blames corporate greed for higher food prices.

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According to the Wall Street Journal, major food manufacturers were able to significantly increase their annual net profits between 2019 and 2023. The leader is Hershey with a profit jump of 62%, Mondelez International increased by 28%, and General Mills and Kraft Heinz each recorded an increase of 48%.

Vice President Harris vowed on Friday: “I will work to ensure that, for the first time, a nationwide ban on price gouging on food is passed.”

Harris proposes new penalties for companies that she believes are exploiting crises.

The National Grocers Association calls the plan a solution in search of a problem.

The real problem is unfair competition with large retailers, and independent grocers are exposed to the same inflationary pressures as their customers.

Martha Lupai is co-owner of A&M Marketplace in Nashville. She says, “We’re not going to raise prices for our customers. Our profit margin is so small that we just hope that if people know our story, they’ll come. More customers will come and it will even out.”

Large food companies are trying to win back consumers with higher discounts and increased investment in private labels.

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