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The Federal Trade Commission (FTC) found that large grocery chains in the US exploited COVID-19 shortages to raise prices significantly more than necessary, leading to excessive profits. Despite supply chain costs decreasing, these chains did not adjust their prices accordingly, according to reports. Senator Elizabeth Warren vows to combat corporate price gouging.
AXIOS: “.. the economic disruption doesn't look like the type of threat to broader supply chains that could cause widespread shortages and price spikes.” @axios @Neil_Irwin #Baltimore #CPI https://t.co/DvfUPtTEbS https://t.co/OK17hjOBoD
“Large grocery store chains exploited product shortages during the pandemic by raising prices significantly more than needed to cover their added costs & they continue to reap excessive profits.” I’m staying in the fight to tackle corporate price gouging. https://t.co/iU4HZHSDy5
Large US grocers are accused of exploiting pandemic shortages to charge you more. A report by the FTC found some large chains accelerated and distorted the effects of supply chain disruptions to raise prices more than needed to cover their added costs. https://t.co/wW9BlO5yBs https://t.co/kvYgIpu2zH
