Kamala Harris proposes plan to lower food costs in North Carolina
Article Summary –
Kamala Harris is proposing a federal ban on price gouging in the food industry to combat rising costs, along with increased FTC authority to prevent consolidation among food producers. Data shows that food prices have increased significantly during the pandemic, with a majority of voters expressing concern about inflation and blaming food manufacturers and grocery stores for higher prices. Harris also highlights the issue of extreme consolidation in the food industry, citing examples such as the proposed Mars-Kellanova merger and ongoing challenges to mergers like Kroger and Albertsons.
The vice president calls for federal ban on price gouging amid rising food costs
Kamala Harris is urging Congress to pass a federal ban on price gouging in the food industry. She emphasizes the importance of preventing consolidation to address the increasing cost of food affecting families in North Carolina and nationwide.
Harris aims to introduce new penalties to combat opportunistic companies exploiting crises and support smaller food businesses. She stresses the significance of competition in boosting the economy.
The proposal comes in response to the surge in food prices during the pandemic, with staples like eggs and dairy experiencing significant price hikes. Data indicates an overall 26% increase in food prices since the pandemic began.
Concerns about inflation, particularly related to food and groceries, have been rising among voters. The majority view food manufacturers and grocery stores as responsible for the higher prices due to profit-maximizing strategies.
Harris also addresses the issue of extreme consolidation in the food industry, citing recent mergers like Mars Inc.’s $30 billion deal with Kellanova. The Federal Trade Commission is currently challenging other mergers to maintain market competition and protect consumers.
The Center for Science in the Public Interest warns that grocery chain mergers can lead to reduced competition, allowing for price increases that hinder access to affordable and healthy food options. Harris advocates for stricter enforcement by the FTC to prevent further consolidation in the food industry.
The ongoing trial to block the Kroger-Albertsons merger exemplifies the need for regulatory actions to safeguard competition and workers’ wages in the grocery sector. Harris’ efforts align with the goal of ensuring fair market practices and affordable food for all Americans.
Isabel Soisson is a multimedia journalist who has worked at WPMT FOX43 TV in Harrisburg, along with serving various roles at CNBC, NBC News, Philadelphia Magazine, and Philadelphia Style Magazine. View all posts
—
Read More North Carolina News