In a court testimony this week, Kroger’s senior director for pricing admitted the grocery conglomerate hiked prices above and beyond inflation for eggs and milk.
This admission is significant as earlier this year, the Federal Trade Commission released a report about grocery conglomerates like Kroger taking advantage of supply chain disruptions during the COVID pandemic. The report noted that the increase in profits cast "doubt on the assertions of some companies that rising prices at the grocery store are the result of retailers’ own rising costs."
An email from a senior executive at Kroger has further confirmed these practices.
The testimony raises questions about other price hike justifications, such as credit card interchange rates, which have remained virtually flat for nearly a decade.
"We believe investing in new technologies and legislating national data security standards will create a stronger payment system," said an industry representative.