Harris wants to ban price gouging to curb food inflation; food companies are pushing back

Vice President Kamala Harris officially accepted the Democratic party’s nomination for president last night — capping off a rousing four-day convention.

But questions still remain about Harris’ policy agenda. And one proposal that’s been getting scrutiny this past week is a federal ban on price gouging.

Harris claims it will prevent food companies from inflating grocery prices. The food industry, though, is pushing back saying prices are fair and driven by market forces.

Brooks Johnson reports on food and manufacturing for the Minnesota Star Tribune. He’s been following the situation and says there’s two sides to the story.

“It hurts to see prices go up that fast, that high — and it’s that sticker shock that really gets us wondering, ‘Are we getting gouged?’” he said. “Food companies say no, since looking at their profit margins they haven’t jumped substantially — at least for General Mills and Hormel.”

Johnson reported that food producers say, “they’re making up for increased costs” and noted more details are necessary to understand how a federal ban on price gouging would work.

For more on the forces behind food prices and the proposal to ban price gouging of groceries, click play on the player above.

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