A Boring Dystopia

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Kroger executive admits company gouged prices above inflation (www.newsweek.com)

submitted 2 months ago by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

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[–] PriorityMotif@lemmy.world 4 points 2 months ago

Some jackass economist will pop in and say that there's no such thing as price gouging. That prices are set by market demand. It is true to an extent, because if people weren't buying things at those prices, then the store would lower the price. The problem with groceries is that there isn't really a price discovery method for the average person unless they go to every possible store and price compare. It's not like you can go online and find prices for every option and alternative for groceries. People just assumed that prices have gone up due to natural inflation, which isn't the case here.