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 NCC interim president Gary Kushner responded to a recent allegation by a political candidate that the food industry and specifically “corporate price gouging” is responsible for inflation.
Kushner correctly noted that “Americans are seeing inflation in nearly every part of their livelihood, rents, gas, automobiles – not just in the meat case. In point of fact, inflation has declined from 9.2 percent to 2.9 percent on an annual basis through July 2024 inflation in the cost of food consumed at home attained 1.1 percent over the past 12-months compared to food in QSRs and restaurants at 2.8 percent. The differential is attributed to the cost of labor, packaging material and overhead.
In his statement, Kusher noted, “chicken prices are largely affected by supply and demand and by major input costs including ingredients, packaging and transport.” He also noted the “impact of burdensome government regulations.” Previously CHICK-NEWS pointed to the low net margins generated by large grocery chains ranging from 1 to 3 percent largely refuting politicians’ claims of price gouging.
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