skews13
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- Mar 18, 2017
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A top Kroger executive admitted under questioning from a Federal Trade Commission attorney on Tuesday that the grocery chain raised its egg and milk prices above the rate of inflation, a concession that came as no surprise to economists who have been highlighting corporate price gouging across the U.S. economy in recent years.
Groff's comment came in response to questioning about an internal email he sent to other Kroger executives in March. In that note, Groff observed that "on milk and eggs, retail inflation has been significantly higher than cost inflation."
A Kroger spokesperson told Bloomberg in a statement that the email was "cherry-picked" and "does not reflect Kroger's decadeslong business model to lower prices for customers by reducing its margins."
But Rakeen Mabud, chief economist at the Groundwork Collaborative, noted Wednesday that "execs all over the economy were saying this stuff on their earning calls back in 2021."
www.rawstory.com
The pandemic played no part in supply chain issues on milk,or egg prices. These aren't imported products, and those farms were producig the same amout of milk and eggs, and the trucks delivering them were running with plenty of cheap fuel. The prices before and since are 100% corporate price gouging, the companies themselves gleefully admitted to.
Groff's comment came in response to questioning about an internal email he sent to other Kroger executives in March. In that note, Groff observed that "on milk and eggs, retail inflation has been significantly higher than cost inflation."
A Kroger spokesperson told Bloomberg in a statement that the email was "cherry-picked" and "does not reflect Kroger's decadeslong business model to lower prices for customers by reducing its margins."
But Rakeen Mabud, chief economist at the Groundwork Collaborative, noted Wednesday that "execs all over the economy were saying this stuff on their earning calls back in 2021."
![www.rawstory.com](https://www.rawstory.com/media-library/memphis-kroger-worker-dies-while-working-in-extreme-heat.jpg?id=35427834&width=1200&height=600&coordinates=0%2C25%2C0%2C25)
During antitrust trial, exec admits Kroger jacked up milk and egg prices above inflation
A top Kroger executive admitted under questioning from a Federal Trade Commission attorney on Tuesday that the grocery chain raised its egg and milk prices above the rate of inflation, a concession that came as no surprise to economists who have been highlighting corporate price gouging across...
![www.rawstory.com](https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk4Njk1My9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTc3NzI2NjcxNX0.8DKks_DnpnaqAs3qMBsxpS5loE6LG8AB6N2Z-5RrxRU/img.png?width=48&height=48)
The pandemic played no part in supply chain issues on milk,or egg prices. These aren't imported products, and those farms were producig the same amout of milk and eggs, and the trucks delivering them were running with plenty of cheap fuel. The prices before and since are 100% corporate price gouging, the companies themselves gleefully admitted to.