If only Tudor Jones knew
consortiumnews.com
Snippet
Amid mounting data showing that people are paying more for food at grocery stores around the United States, an analysis this week reveals how corporate power is “the real culprit behind rising prices at the checkout line.”
 After the U.S. Labor Department announced that the Consumer Price Index increased by 0.4 percent in September, researchers at the Groundwork Collaborative, a progressive think tank, explained the connections between “price hikes, monopoly and corporate greed.”
“The more sway mega-corporations have over our economy, the more power they have to gouge customers, squeeze Main Street, and exploit workers,” Rakeen Mabud, chief economist at the Groundwork Collaborative, said in a statement.
Since September 2020, food prices overall have increased by 4.6 percent, with the price of meats, poultry, fish, and eggs surging the most over the past 12 months, at 10.5 percent.
The higher inflation rate in those industries, researchers noted, can be attributed to decades of consolidation, which has given a handful of corporations an ever-greater degree of market control and with it, the power to set prices. |
