Corporate Greed Is Costing You at the Grocery Store

Consolidation in our food system affects more than just prices. It also damages whole local economies.

During this year’s State of the Union Address, President Joe Biden spoke to what most people in the U.S. are seeing right now — trips to the grocery store are more expensive than ever. The reason? Corporate greed.

“Too many corporations raise their prices to pad their profits, charging you more and more for less and less,” he said.

We couldn’t agree more. In the days before the State of the Union, we found that from 2020 to 2024, the cost to feed a family of four grew 2.5 more than the rate of inflation.

Meanwhile, corporate profits rose five times faster than inflation from 2020 to 2022 — some to record highs. What’s more, a recent report from the Biden administration shows how big companies benefited from worsening the supply chain problems that raised prices during the pandemic.

This trend has been enabled by lax antitrust enforcement that has let corporate giants get bigger. And as they get bigger, their power grows, too. Luckily, we know just how to tackle this — and so does Biden.