Biden pressures food retailers to lower grocery prices, says corporations are ‘ripping people off’

JACKSONVILLE, Fla. – The Biden administration is pressuring food retailers to lower grocery prices after an analysis revealed shoppers are paying much more for groceries.

REPORT: Egg-spensive grocery bill? Food inflation taking a bite out of your wallet

Biden promised to provide relief for American families at the grocery store, aiming at corporations he said are continuing to artificially inflate prices.

“America, we are tired of being played for suckers and that’s why we are going to keep on these guys, get these prices down,” Biden said at an event in South Carolina.

The White House said while inflation has dropped overall from 9.1% in June 2022 to 3.4 % in December 2023, essential groceries like bread, cheese, milk, and meat remain overpriced.

“For all we’ve done in America to bring the prices down, corporations in America, ripping people off, price gouging,” Biden said.

The White House didn’t name any specific companies but according to recent data released by Reuters, grocery giants Walmart, Kroger, and Albertsons are bringing in over 20% gross profit margin, which is in line with profits before the COVID-19 pandemic.

Jacksonville shoppers said they’re feeling the financial pinch.

“The meat is very high, cheese, eggs, everything is high,” Markia Brown, a shopper said.

Brown said she just spent $357 on two weeks of groceries for herself and two children.

“Even [the] homeless can’t afford this, they won’t be able to eat, cereal is $6 or $7 for one box, it’s ridiculous, it’s sad,” Brown said.

Katie Jackson said she only buys groceries for herself.

“I have to have special food because I have medical problems, it’s about $150 a month,” Jackson said.

It’s not all bad news at the checkout line, while grocery prices overall remain high, prices are dropping for some items including eggs, lettuce, tomatoes, apples, and milk.

However, beef, baby food, fruits, sugar, bread, and potatoes continue to cost consumers a pretty penny.

“Milk, cheese, you can’t get out of here without paying close to $4 for bread, that’s double, that’s double,” Michael Madison a shopper said.

The president of Kroger said in a statement: “The families hit the hardest by the high prices are low-income families who spend most of their income on food, compared to middle-income and wealthy families who eat out as well at a higher rate.”