As food prices have skyrocketed and remained high in recent weeks, Sen. Elizabeth Warren, D-Mass., has been blaming large supermarket chains for the problem.
Warren tweeted Monday: ”Giant grocery store chains force high food prices onto American families while rewarding executives & investors with lavish bonuses and stock buybacks. I’m demanding they answer for putting corporate profits over consumers and workers during the pandemic.”
Inflation reached its highest point in approximately 40 years last month, with supply chain shortages coming from coronavirus lockdowns, labor shortages and higher fuel costs being major contributors. NBC reported that the greatest increases were seen in gasoline, food, shelter, and new and used vehicles.
As grocery prices have continued to stay high, Warren wrote a letter to some of the country’s largest supermarket chains, saying: ”Your company, and the other major grocers who reaped the benefits of a turbulent 2020, appear to be passing costs on to consumers to preserve your pandemic gains, and even taking advantage of inflation to add greater burdens.
”Your companies had a choice: They could have retained lower prices for consumers and properly protected and compensated their workers, or granted massive payouts to top executives and investors. It is disappointing that you chose not to put your customers and workers first,” Warren added.