Comment on Casual reminder
octopus_ink@lemmy.ml 4 months agoSupply chain constraints were industry wide, and when the order expired, prices went up far past standard inflation.
Just a reminder to folks emphasizing that retailers used that as cover for corporate greed, and a lot of it was lies. Various links:
dailymontanan.com/…/trade-watchdog-big-retailers-…
nytimes.com/…/grocery-prices-pandemic-ftc.html
news.harvard.edu/…/retailers-have-been-cutting-co…
Great quote from that Harvard one (they called it months before the FTC did, but I think this was clear to anyone buying basic goods):
HBS research suggests firms have held off lowering them because it appears consumers got used to paying more
The FTC report that is the basis for the first three links above: ftc.gov/…/ftc-releases-report-grocery-supply-chai…
And don’t get me started on shrinkflation.
disguy_ovahea@lemmy.world 4 months ago
That’s true of the post-pandemic food industry prices for sure. That description was regarding the failure of Nixon’s attempt to price fix with an Executive Order.
octopus_ink@lemmy.ml 4 months ago
Oh sorry I was clearly not paying much attention to what I was reading. Thanks for the gentle correction.
disguy_ovahea@lemmy.world 4 months ago
No problem. Thank you for citing sources in your comment. I always appreciate substantiation in this world of misinformation.