Deese blames company consolidation for grocery price hikes
United States Director of the National Economic Council Brian Deese blamed on Wednesday company consolidations for the recent increases in grocery prices in the country.
Deese noted that around half of the price hikes are due to beef, pork, and poultry, adding that for other grocery items the rise in prices is more in line with “previous historical movements.”
Lastly, Deese said that price increases are not happening in “isolation,” as he asserted that it was a voluntary decision by the top grocery companies in the US. Furthermore, as proof of his claims, he said that the top four meat processors, including Tyson Foods and JBS, have had record or near-record profits in the previous quarters.
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