Democratic presidential nominee Kamala Harris on Friday announced her support for the first federal ban on food price-gouging.
“Many of the big food companies are seeing their highest profits in two decades, and while many grocery chains pass along those savings, others still aren’t,” Harris said at a campaign rally in Raleigh, North Carolina. “I know most businesses are creating jobs, contributing to our economy, and playing by the rules, but some are not.”
“As president, I will go after the bad actors,” she added. “I will work to pass the first-ever federal ban on price-gouging on food.”
Harris’ announcement, her first economic policy rollout, did not provide many details. And while she blamed price-gouging for high food prices that have infuriated Americans over the past several years, neither corporate profiteering nor inflation are entirely to blame; it’s a matter of supply and demand, further complicated by increased costs within the supply chain itself.
More than 70% of Americans are unhappy about food and consumer goods prices, though grocery costs may be stabilizing. The New York Times reports that in the first half of 2024, grocery prices rose only 1.1% — but this slowdown doesn’t change the fact that food prices are still 20% higher than they were in 2020.
