30 votes

US targets surging grocery prices in latest probe

10 comments

  1. vord
    (edited )
    Link
    Good. Frankly, I think all businesses should have open books. It's one thing to be profitable in a transparent way, it's another to be profitable because of customers not being able to see what...

    Good. Frankly, I think all businesses should have open books. It's one thing to be profitable in a transparent way, it's another to be profitable because of customers not being able to see what their goods actually cost.

    Added bonus is that it'll make wage transparency easy, which is the bane of all workers.

    25 votes
  2. [2]
    BeanBurrito
    Link

    Aug 1 (Reuters) - The U.S. Federal Trade Commission will probe why grocery prices remain high even as costs for retailers fall, Chair Lina Khan said on Thursday, a key theme for the Biden-Harris administration as it heads towards the presidential election.

    Once the FTC votes to authorize the study, major grocery chains would be ordered to provide information on their costs and prices on common products. Khan made the announcement at a public meeting with Justice Department officials on pricing practices.

    14 votes
    1. chocobean
      Link Parent
      Canada please follow suit. Please.

      Canada please follow suit. Please.

      4 votes
  3. [7]
    joshtransient
    Link
    No mention of Kroger or Safeway/Albertson's, particularly worrying since those two are eyeing a merger right now which could screw up prices even more.

    The biggest U.S. industry players include Walmart…Costco…Whole Foods; and…Target

    No mention of Kroger or Safeway/Albertson's, particularly worrying since those two are eyeing a merger right now which could screw up prices even more.

    12 votes
    1. [6]
      elight
      Link Parent
      Kroger is larger than Target? Sounds like it belongs in the list. Anecdotally, I was dismayed when I saw the local multiethnic grocery store chain (sells Central American, South Asian, and...

      Kroger is larger than Target? Sounds like it belongs in the list.

      Anecdotally, I was dismayed when I saw the local multiethnic grocery store chain (sells Central American, South Asian, and Southeast Asian groceries) that usually has the best prices in most produce, doubled the price of its cilantro to be the same as the Whole Foods a mile away. The store serves a struggling primarily Latino neighborhood. Charging $1 for a smaller bundle of cilantro than the $0.50 for its formerly nice bundles of cilantro surprised the hell out of me. For me, it's just a nuisance. For the families nearby, I imagine a lot of them buy cilantro often.

      Then I noticed that Whole Foods cilantro looked identical to what was being sold in the aforementioned grocery store.

      I don't know. But I wonder if, in this case, it may be a supply side issue.

      Bear in mind: the climate is really going to hell. If we're not already, we will be feeling the climate change in our wallets at the grocery store. May that be as bad as it gets, however unlikely.

      8 votes
      1. MimicSquid
        Link Parent
        Often smaller grocery stores are sourcing their produce from the same range of farms as the larger grocery stores, and if there's a pinch in supply for whatever reason, the larger store often gets...

        Often smaller grocery stores are sourcing their produce from the same range of farms as the larger grocery stores, and if there's a pinch in supply for whatever reason, the larger store often gets first pick because they can promise to buy the whole crop. Early in the pandemic there was a local grocery store that had just started to erase a food desert in West Oakland, and it went under in large part because when the supply chains fell apart they literally could not find things to put on the shelves. Their suppliers were prioritizing their relationships with big players like Whole Foods rather than the small fry.

        8 votes
      2. NoblePath
        Link Parent
        That’s the point of this whole issue. Since retailers are opaque, we don’t know if inflation comes from reasonable and equitable causes or from gouging.

        But I wonder if, in this case, it may be a supply side issue.

        That’s the point of this whole issue. Since retailers are opaque, we don’t know if inflation comes from reasonable and equitable causes or from gouging.

        7 votes
      3. [3]
        chocobean
        Link Parent
        Cilantro here is $3. Sometimes more, until they rot and has to be thrown out. Ditto all the dragon fruit, passion fruit, attamoya, sliced hot pot beef and other things that don't have a market...

        Cilantro here is $3. Sometimes more, until they rot and has to be thrown out. Ditto all the dragon fruit, passion fruit, attamoya, sliced hot pot beef and other things that don't have a market here in rural Canada. I miss those little road side Asian markets.

        Hopefully in your case it's only that their original supplier couldn't make it and they're selling you Whole Foods cilantro at a loss as a bridge gap.

        4 votes
        1. [2]
          elight
          Link Parent
          $3? I hope those are much larger bundles than we get here

          $3? I hope those are much larger bundles than we get here

          1. chocobean
            Link Parent
            Nope, fairly certain it's the standard thickness of little less than an inch bundles. They're mostly paying for transportation and the fact that most will not sell (spoilage)

            Nope, fairly certain it's the standard thickness of little less than an inch bundles. They're mostly paying for transportation and the fact that most will not sell (spoilage)

            2 votes