Corporate Greed the 'Real Culprit Behind Rising Prices,' Researchers Say
"Amid mounting data showing that people are paying more for food at grocery stores around the United States, a new analysis out Wednesday reveals how corporate power is "the real culprit behind rising prices at the checkout line."
"Kroger, a grocery mega-chain, spent the summer of 2021 gloating that "a little bit of inflation is always good in our business"
Charging consumers more for supermarket staples has lined the pockets of Kroger executives and shareholders, even as median worker pay decreased by 8% in 2020. That same year, the Kroger CEO earned 909 times what the median worker earned.
While the company was publicly calling their workers heroes, they were simultaneously cutting essential hazard pay for employees during a global pandemic. Meanwhile, the company spent $1.498 billion on stock buybacks between April 2020 and July 2021 to enrich its shareholders.
"Amid mounting data showing that people are paying more for food at grocery stores around the United States, a new analysis out Wednesday reveals how corporate power is "the real culprit behind rising prices at the checkout line."
"Kroger, a grocery mega-chain, spent the summer of 2021 gloating that "a little bit of inflation is always good in our business"
Charging consumers more for supermarket staples has lined the pockets of Kroger executives and shareholders, even as median worker pay decreased by 8% in 2020. That same year, the Kroger CEO earned 909 times what the median worker earned.
While the company was publicly calling their workers heroes, they were simultaneously cutting essential hazard pay for employees during a global pandemic. Meanwhile, the company spent $1.498 billion on stock buybacks between April 2020 and July 2021 to enrich its shareholders.
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