WAUSAU, Wis. (WAOW) — Whether you’re stocking up the pantry or just grabbing a few things you forgot, the past few years may have you feeling like you’re spending more and more for fewer bags at the store.
A new report by the Federal Trade Commission (FTC) found profits from grocery chains jumped considerably more than supply chain and inflation issues could justify.
While the report focused primarily on major national chains like Kroger, Walmart, and Amazon it also looked at food producers.
The report found retailer profits rose over 6 percent in 2021, and another 7 percent in the first half of 2023.
Angela Huffman, President, Farm Action said, “It’s one thing to raise your prices to cover higher expenses, but what these companies did is use the pandemic as an excuse to exploit the American people who needed to put food on their tables. And the FTC report shows that they’re still doing it, here in 2024.”
Huffman recommends federal intervention to break up what she calls grocery behemoths to ensure your next trip to the store doesn’t break the bank.
Now for Wisconsin specifically the FTC found the average Wisconsin family spends about $220 a week on groceries, which is still below the national average of $270.