As the pandemic wore on and supply chains started to become more strained, the nation's largest grocery store chains raised prices and became more profitable, a new report from the Federal Trade Commission suggests.
“As the pandemic illustrated, a major shock to the supply chain can have cascading effects on consumers, including the prices they pay for groceries,” said FTC Chair Lina M. Khan. “The FTC’s report examining U.S. grocery supply chains finds that dominant firms used this moment to come out ahead at the expense of their competitors and the communities they serve.”
The report specifically called out profits made by Kroger, Walmart and Amazon. It also drew attention to the profits earned by several large wholesalers. The report also suggested the smaller chains and independent stores struggled to stock shelves while supply chain shortages less impacted major chains.
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