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Grocery stores and food suppliers are raising prices to enrich their own shareholders. Simple as that. Search for "greedflation"
by kccqzy 3y ago
Grocery stores and food suppliers are raising prices to enrich their own shareholders. Simple as that. Search for "greedflation"
- nsxwolf 3y agoWhy now? Haven’t people always been greedy?
- nick7376182 3y agoThe prisoner's dilemma of price discovery for corporations has shifted from the competitive mode to collusion mode thanks to the perturbation of COVID and inflation fear.
- bryanlarsen 3y agoIn the past, they couldn't get away with it. We used to have competition. Competition slowly changed to oligopoly over the years but companies were still applying lessons learned in the distant past that raising prices would drive away customers. But once they learned that they now can get away with raising prices...
- kccqzy 3y agoThe more people are aware of the fact that inflation is soaring according to the news, the more people find it expected that they see high prices at grocery stores, the more companies can raise prices. Self-fulfilling prophecy.
- rightbyte 3y agoI don't think NY grocery markets ever charged less than to maximize their profits. "Shrinkflation" is a better concept I think, since it implies deception.