- Total News Sources
- 2
- Left
- 1
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- 1
- Right
- 0
- Unrated
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- Last Updated
- 22 days ago
- Bias Distribution
- 50% Left
During an antitrust trial, Kroger's Senior Director for Pricing, Andy Groff, admitted that the company raised prices on milk and eggs above inflation levels, a practice aimed at passing inflation costs onto consumers. This admission came as part of the Federal Trade Commission's (FTC) legal challenge to block Kroger's $24.6 billion acquisition of rival Albertsons, which raises concerns about potential price increases for consumers. Groff's internal email indicated that the retail inflation for these items significantly outpaced cost inflation, leading to higher profits for the grocery chain. While Kroger maintains that its pricing strategy aims to lower customer costs, critics argue that the company's actions reflect broader trends of corporate price gouging in the wake of the pandemic. The FTC contends that the merger would reduce competition and lead to higher prices in numerous markets across the U.S. A ruling on the acquisition is expected from U.S. District Judge Adrienne Nelson in the coming days.
- Total News Sources
- 2
- Left
- 1
- Center
- 1
- Right
- 0
- Unrated
- 0
- Last Updated
- 22 days ago
- Bias Distribution
- 50% Left
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