Vice President Kamala Harris is tackling high food prices with a proposed federal ban on grocery price gouging. Despite year-over-year inflation at its lowest in three years, grocery prices have surged by 21% compared to three years ago. A major component of this increase is the rising cost of meat, with beef up 33%, chicken 31%, and pork 21% since the pandemic began.
This proposal is part of a broader campaign strategy aimed at alleviating inflationary pressures on essential food items. She aligns closely with President Joe Biden’s economic record, highlighting efforts such as reducing prescription drug prices through the Inflation Reduction Act. Harris was pivotal in passing the Act, casting the tie-breaking vote needed for its approval.
Kamala Harris will propose a ban on food and grocery price gouging as part of her broader economic agenda https://t.co/hXQ7b6qohA
— Bloomberg (@business) August 15, 2024
Trump and Critics Weigh In
Republican nominee Donald Trump has strongly criticized the Biden administration’s handling of inflation. Trump attributes rising food prices to poor energy policies and has accused Harris of proposing “communist price controls” that could worsen inflation and cause shortages. Consumer confidence surveys further indicate continued frustration among Americans, particularly lower-income families, with the persistent high prices.
“Trump, speaking Thursday at his golf club in Bedminster, New Jersey, argued Harris is proposing ‘communist price controls’ that would lead to shortages, hunger and more inflation.”
The Biden administration attributes high meat prices partly to corporate consolidation in the meat processing industry, a claim disputed by the meat industry. Industry representatives argue that the federal ban on price gouging won’t address broader inflation causes, pointing to increased costs of feed, fuel, labor shortages, and supply chain issues as significant contributing factors.
Harris’ Broader Strategy
Harris’ economic plan also includes broader strategies to lower everyday costs for Americans. She plans to direct the Federal Trade Commission (FTC) and state attorneys general to investigate and penalize food companies that violate the federal ban on price gouging. Elevated costs have been a persistent issue for the Biden-Harris administration since the pandemic.
She emphasizes recent data showing slowing food inflation and aims to capitalize on it. Harris is outlining actions to be taken within her first 100 days as president to address these high grocery costs, aligning her proposals with President Biden’s focus on increasing competition in the meat industry to alleviate price hikes.
“The tie-breaking vote of Kamala,” Biden told the audience, “made that possible.”
Harris’ platform includes expanding Biden’s efforts to highlight and control price gouging. However, most voter surveys currently show Biden and Harris trailing behind Trump on economic issues, reflecting skepticism about whether their strategies can bring meaningful and sustained relief to struggling consumers.
