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[quote=Anonymous][quote=Anonymous]
Who regulates the prices and how does this whole thing work? [/quote]

In the US, food prices aren't regulated at all, as far as I know.

Maybe the last time there were federal regulations on the price of food was in WWI?

I take it back... this is interesting: The last attempt to fix food prices was in 1971 by President Nixon, but it was part of an overall 90 day freeze on prices of most things.

https://en.wikipedia.org/wiki/Price_controls#:~:text=During%20World%20War%20I%2C%20the,Germany%20during%20World%20War%20II

[quote]United States
In the United States, price controls have been enacted several times. The first time price controls were enacted nationally was in 1906 as a part of the Hepburn Act.[13][page needed] In World War I the War Industries Board was established to set priorities, fix prices, and standardize products to support the war efforts of the United States. During the 1930s, the National Industrial Recovery Act (NIRA) created the National Recovery Administration, that set prices and created codes of "fair practices". In May 1935, the Supreme Court held that the mandatory codes section of NIRA were unconstitutional, in the court case of Schechter Poultry Corp. v. United States.

In 1971, President Richard Nixon issued Executive Order 11615 (pursuant to the Economic Stabilization Act of 1970), imposing a 90-day freeze on wages and prices. The constitutionality of this action was challenged and upheld in the case of Amalgamated Meat Cutters v. Connally[/quote]

Anyhow point is, no one "regulates" the price of food in the US.

[/quote]

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