Cramer says companies must roll back prices: ‘It may be time for a giant reset'

CNBC's Jim Cramer on Wednesday opined on pervasive inflation, saying companies must bring down prices if they want to attract consumers in the current economic landscape.

"Companies are so reluctant to take prices down because they don't want to hurt their treasured gross margins," he said."But I think it may be time for a giant reset."on Wednesday opined on pervasive inflation, saying companies must bring down prices if they want to attract consumers in the current economic landscape.

"Companies are so reluctant to take prices down because they don't want to hurt their treasured gross margins," he said."But I think it may be time for a giant reset." Though prices may have stopped rising rapidly, Cramer said that doesn't mean they're coming back down, and he suggested many companies are in denial about the need for rollbacks.

He gave a few examples, saying that some liquor companies won't consider high costs as a reason for declining sales and instead wonder if a younger cohort of consumers are prioritizing healthier diets. He also attributed some of the issues atto inflation, saying they're"emblematic of how higher prices are changing the face of business.

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