An economic agenda proposed by Vice President Kamala Harris will reportedly include a federal ban on price gouging for food and groceries.
The proposal aims to make voters aware of her plans to tackle the issues surrounding rising food costs and other effects of ballooned inflation. The plan also will address bolstered antitrust enforcement in the grocery sector and greater latitude to investigate corporate practices, according to a news release from her administration.
“Vice President Harris knows that rising food prices remain a top concern for American families,” a statement shared with ABC News from the Harris administration reads. “Many big grocery chains that have seen production costs level off have nevertheless kept prices high and have seen their highest profits in two decades. While some food companies have passed along these savings, others still have not.”
The proposal comes at a time when American shoppers are feeling the squeeze of price jumps on items that were significantly less costly just a year ago.
80% of American say they’ve felt a notable increase in the cost of groceries, Intuit Credit Karma reported in recent survey results.
Since the start of the pandemic, grocery prices have risen 25%, the report states. The data also states that people are continually having to do away with certain necessities in order to have money for food, which includes 28% who sacrificed other needs like rent or bills to pay for groceries. Others are just skipping meals altogether.
The price gouging epidemic has seemingly affected stores’ bottom line as some stores are rolling out cost-cutting measures to better support customers’ needs, but some consumers are saying its just a response to struggling sales following months of significant price hikes.
Stores like Walgreens announced at the top of summer that it would lower prices for the season and beyond on 1,300 items, including snacks and feminine products, joining the likes of Target and other big box stores aiming to win back cash-strapped consumers.