Reply to Do food prices seem even higher than usual?

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[quote=Anonymous][quote=Anonymous]NYT just did an article that even though producer and wholesale costs have gone down, companies and restaurants are not lowering prices because consumers are willing to pay. Companies are incentivized by profit and as long as the market is willing to pay higher profits they are not giving up their profit margins. In many areas of food, there simply aren’t enough competitors to drive down consumer prices.

It’s sad but people will need to become unemployed and simply not have enough money to buy things for any of the companies or restaurants to lower prices. This is capitalism which isn’t a bad thing but without enough competitors it doesn’t work for the consumer. [/quote]

Time for Propublica to do another article like the yieldstar article on food company's gluttony for profits!

Around spring 2021, there was an article in the WSJ where several food company spokespeople said their companies were going to raise prices as much as possible to find the breaking point for consumers. They had no problems with supply chain issues anymore, but the food companies wanted to stockpile as much cash as possible and discussed raising food prices 15%, reasoning that once prices go up, consumers will accept it and the prices will stay high forever. I was pretty impressed that the WSJ reporter got the food company CEOs to actually admit to this strategy.

My question: How are these incredibly high food prices not a monopoly problem? If all the egg sellers raise egg prices to 6 dollars a dozen when it used to be one dollar a dozen, couldn't that be viewed as price-fixing, or collusion? Certainly the higher prices aren't going to the poor farm laborers and meat plant processors.
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