While inflation is moderating, shoppers remain furious over the high price of groceries. Mr. Biden, who has seen his approval ratings suffer amid rising prices, has found a blame-shifting message he loves in the midst of his re-election campaign: skewering companies for shrinking the size of candy bars, ice cream cartons and other food items, while raising prices or holding them steady, even as the companies’ profit margins remain high.
The president has begun accusing companies of “ripping off” Americans with those tactics and is considering new executive actions to crack down on the practice, administration officials and other allies say, though they will not specify the steps he might take. He is also likely to criticize shrinkflation during his State of the Union address next week.
Mr. Biden could also embrace new legislation seeking to empower the Federal Trade Commission to more aggressively investigate and punish corporate price gouging, including in grocery stories.
Polls have shown that Americans are angry at corporations for price increases — including for groceries. Part of Mr. Biden’s shrinkflation strategy, Mr. Ramamurti said, “is trying to meet the public where they are and talk about issues that are really top of mind.”
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@G0vernanceDougDemocrat2yrs2Y
This may be a small thing, but I’m excited this issue is being addressed. I’m tired of under-filled packaging, like cans of beans with 50% liquid (thanks Field Day) among others. It’s not only a scam, but it also has an impact on the environment through wasted packaging materials and shipping costs.
@Sw1ngStateDukeGreen2yrs2Y
I’ve weighed the contents of a 15 oz can of beans: about 9-9.5 ounces are the drained beans, with the liquid comprising the remaining 6-5.5 ounces. Amazing.
I usually cook my own dry beans in my Instant Pot — but even the price of dry beans is going up, up, up.
@R3publicTimSocialist2yrs2Y
Interesting how gasoline prices vary up and down with supply and demand, currently dropping significantly from a year ago. Yet grocery prices remain stuck at high levels, never dropping, only moving upward. Moreover, gas prices move rapidly in small increments, while supermarket item pricing is nearly always full dollar amounts - $4.99, $5.99, $6.99, etc.. The structure and dynamics of grocery pricing signal little relation to costs. That sure seems like the outcome of monopolization among food growers and retailers.
@Sw1ngStateDukeGreen2yrs2Y
Painful... The average American consumer may see that prices of groceries are indeed high(er). However basic economic principles of price elasticity (choosing to buy something else when the price of a preferred commodity is considered too high) are lost on us. I may choose to eat chicken over higher priced beef, i.e. Then there is the notion that "falling inflation" means lower prices... NOT! Simply means the rate at which prices are rising is now slower BUT STILL HIGHER. Lastly, certain products are inelastic in that we must have them at any price. Food in general, like elec… Read more
@R3publicTimSocialist2yrs2Y
Inflation has occurred.
When the average cost of housing is $3,000 per month, if other essentials are added in, there should be no income tax on the first $4,000 to $5,000 per month of income for individuals and more for families.
The minimum wage is far from adequate, which is masked by federal poverty levels that no longer reflect the minimum necessary for subsistence in most of the country.
Social Security payments need a major upward adjustment.
Where will all this the money come from? From a functional alternative minimum tax that forces all millionaires, billionaires and corporations to pay significantly more as a proportion of their income than median taxpayers.
If they can afford things like private spacecraft, they can afford to pay more to support economically just practices of our government.
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