Reply to Eggs, milk and groceries cost 16% higher than they did in 2021

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[quote=Anonymous][quote=Anonymous]Since Biden's election, there have been many changes to the minimum wage based on Living Wage initiatives.  in 2022 and 2023, many of those initiatives finally took effect based on the delay of passing to implementation.

As those wages go up, manufacturers are raising their prices to adjust.  As manufacturers raise the prices, then the companies that by the component goods have to raise their prices.  Additionally all product pricing is affected by the increase in shipping costs because drivers are now paid premiums.  During the pandemic, many companies had to implement additional sanitation and cleaning costs into production, factories, for delivery workers and so on and they added those costs to their prices.

Those of voted for living wage ballot initiatives and voted for elected officials who championed living wage initiatives said they didn't mind paying higher prices.  Now the higher prices have come around and people are complaining about the prices.  You can't have it both ways.  Living wages come with a price that affects commodities and manufacturer products including food and groceries.[/quote]

Nope. Read the quoted article above:

Strikingly, over half of this increase (53.9%) can be attributed to fatter profit margins, [b]with labor costs contributing less than 8% of this increase. This is not normal. [/b]From 1979 to 2019, profits only contributed about 11% to price growth and labor costs over 60%, as shown in Figure A below. Nonlabor inputs—a decent indicator for supply-chain snarls—are also driving up prices more than usual in the current economic recovery.[/quote]

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