CINCINNATI (WKRC) – A Kroger executive admitted to gouging prices on select items above inflation levels during an antitrust trial.
According to Newsweek, Andy Groff, Kroger’s senior director for pricing, said the company had raised the cost of milk and eggs beyond the levels of inflation while testifying to a Federal Trade Commission attorney on Tuesday.
“This is not at all surprising,” founder of Illinois-based Powers Financial Group Drew Powers told Newsweek. “Companies across multiple industries have been posting record profits since the COVID-19 crisis while consumers have faced the highest inflation in recent history. The math can only point to companies raising prices above the general level of inflation. As the old saying goes, ‘Never let a good crisis go to waste.'”