Dwain Northey (Gen X)

It’s Not Just Inflation — It’s Price Gouging

Corporations across industries, from housing to groceries and used cars, are juicing their profit margins even as the cost of doing business goes down. And they’re not hiding the ball.

For example, the Coca-Cola Company increased the price of its products by 11 percent over the course of 2022. The company’s chief executive said at the time that Coca-Cola had “earned the right” to hike prices for consumers. Coca-Cola’s rival, PepsiCo Inc., also significantly increased prices.

Please stop blaming the current administration for the prices. Biden and the current White House cannot control gas prices anymore than any other administration did. It’s all a matter of supply and demand and corporate greed and the supply is actually through the moon right now, but corporate greed is keeping the price is high.

President Biden is taking on corporate price gouging by banning hidden junk fees and calling on corporations to pass the savings from their reduced costs onto consumers. This is something the administration can do. Kroger raising grocery prices, Exxon increasing gas prices are things that are under corporate control and unfair to consumers but because we don’t live under an Authoritarian government can’t be regulated by the federal government. Maybe they should be but that isn’t the system we have.