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Big meat companies are making your grocery trip more expensive, not inflation, a White House report says

Big meat companies are making your grocery trip more expensive, not inflation, a White House report says


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Meat prices spiked during the pandemic.




While many are worried about widespread price inflation, the White House blames meat prices on something different.




In a new report, officials discuss breaking up the meat monopolies to lower prices for shoppers.




See more stories on Insider's business page.


If a pack of 32 frozen Great Value beef burgers at Walmart costs roughly $23 today, it would've been roughly $19 before the pandemic. For a lot of Americans, that nearly 15% increase in prices since January 2020 adds up to a severely bloated grocery bill.But the White House isn't blaming broader, economy-wide inflation for this one. Instead, it's saying meat industry players are collaborating to raise prices for shoppers - and not passing along the extra profits to farmers.In a White House briefing Wednesday, National Economic Council Director Brian Deese said half of the overall increase in at-home food prices is due to spikes in the cost of beef, pork, and poultry. And this has helped major industry players see record profits so far this year."It raises a concern about pandemic profiteering - about companies that are driving price increases in a way that hurts consumers who are going to the grocery store, and also isn't benefiting the actual producers - the farmers and the ranchers," Deese said in the briefing.
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