The pandemic caused justified rapid increases in food prices due to supply chain constraints. Once the supply chains stabilized, not only did the prices not return to normal, corporations continued to increase prices along the post-pandemic escalated inflation rate.
The last President to use an Executive Order to control grocery prices was Nixon, and it was a horrible mistake. Not only did it cause supply chain issues, as soon as the Order expired the prices increased well past the standard inflation rate.
What they are doing could be considered criminal profiteering, and should be prosecuted by the Department of Justice.
It wasn’t just the supply chain disruptions. It was also the forced closing of tons of small businesses leading to a lack of competition in the market.
That’s a very valid point. There were many small brand purchases during that time. In hindsight, they probably had no choice but to sell off and cut losses.
Perceived inflation is not the same as actual inflation as measured by the official inflation basket. Quite often you have a situation where day to day goods are increasing in prices (and thus driving perceived inflation), while more permanent expensive but rarely bought goods (TVs, cars etc.) are dropping in prices, so that on average the official inflation rate isn’t increasing that much.
They say it because it is demonstrably true. We have numbers for these things, no need to ask random people about it.
The pandemic caused justified rapid increases in food prices due to supply chain constraints. Once the supply chains stabilized, not only did the prices not return to normal, corporations continued to increase prices along the post-pandemic escalated inflation rate.
The last President to use an Executive Order to control grocery prices was Nixon, and it was a horrible mistake. Not only did it cause supply chain issues, as soon as the Order expired the prices increased well past the standard inflation rate.
What they are doing could be considered criminal profiteering, and should be prosecuted by the Department of Justice.
It wasn’t just the supply chain disruptions. It was also the forced closing of tons of small businesses leading to a lack of competition in the market.
That’s a very valid point. There were many small brand purchases during that time. In hindsight, they probably had no choice but to sell off and cut losses.
Yeah it’s strange that this is about a poll instead of data
Perceived inflation is not the same as actual inflation as measured by the official inflation basket. Quite often you have a situation where day to day goods are increasing in prices (and thus driving perceived inflation), while more permanent expensive but rarely bought goods (TVs, cars etc.) are dropping in prices, so that on average the official inflation rate isn’t increasing that much.