Kroger now admits it jacked up milk and egg prices above inflation.

Millions of shoppers had no choice but to accept it.

This is what happens when five companies dominate over 60% of American grocery sales.

Minimal competition means maximized price gouging.

@rbreich

Similar problem here in Canada, except the monopoly (oligopoly) is only three corporations.

@rbreich Stop shopping at Gougers.
@lyricismist @rbreich
That's the problem though, there isn't an alternative.
@rbreich try being in Australia… we have the big 2 !
@rbreich And they can low-ball their suppliers. Distribution monopolies and service ‘brokers’ have been a huge problem forever.
@rbreich when egg prices got out of hand I stopped buying eggs. Some things we can give up others not so much but we can avoid some price gouging
@rbreich My mom said "They can keep their damn bacon!" for a few months at least.
@rbreich This is exactly why I shop around. Like serious shopping around. LOL -T
@rbreich 2 'major' store chains in my are have maintained accelerated pricing since the epidemic and haven't let go. Thank God for Aldi's!

@patcanfield @rbreich yep +1 for Aldi. Bag of small.multicolored peppers that are awesome for roasting in an air fryer are 6-7 dollars at Publix but only 2.49 at Aldi.

Aldi is a giant food retailer, their business model is simply smaller stores, less.selection, and self-checkout.

There is something about greed and a focus on stock price combined with high executive payback a lack of government oversight that makes companies willing and able to collude and gouge.

@rbreich It would be great if anti-trust regulators did the obvious good thing and nixed the Kroger acquisition of Albertsons, Vons, and Safeway that will mean much less competition, but my hopes aren't high.
@rbreich That’s frustrating but not surprising. When so few companies control the market, they can hike prices with little pushback. It’s a clear example of why more competition is needed in the grocery industry. #pricegouging #MonopolyProblems #consumerrights
@rbreich Maybe this is happening in other countries as well...
@rbreich I believe it was calculated that over 50% of the inflation the global economy has been forced to endure over the last 24 months has actually been companies taking advantage of the global financial situation to profiteer & inflate shareholder payouts and CEO pay packets, whilst the entire planet suffers from another financial attack on population the richest have stolen another large chunk of our hard earned money & dished it out amongst themselves. They are playing a very dangerous game

@rbreich

God's I wish the result of this was:

"Yeah I know you wanted a merger but we've decided to break each of you up into 20 smaller companies...."

@rbreich We need to use Sherman's hammer on them.

@rbreich

And this is why I as a disabled and homebound individual who is on a keto diet, cannot afford what I need monthly on my disability income.

Where I am Kroger owns all the grocery stores.

@rbreich
Don't f***** buy eggs and milk.
Go f****** vegan.
Ihr habt wohl den Knall nicht gehört?
#canibalism
@rbreich I was a 2nd generation loyal Kroger customer until about a year ago. That’s when their lack of concern about their customers chased me away never to return. I didn’t realize how bad their prices had gotten until I shopped elsewhere.