[ [link removed] ]The text reads, "STOP TAKING FOOD OFF OUR PLATES." It is on a green
background with a suited arm pulling an apple up with a string. The COC
logo is in the bottom lefthand corner.

John,

Are your pockets feeling a little lighter these days? Ours sure are. It
seems like the pandemic made everything more expensive, including food. In
fact, the cost of food has increased 10.1% on average from May 2021 to May
2022, with take-home groceries increasing by 11.9%.^1 But what’s to blame?
We’ve heard it all. First it was the pandemic, then increased
transportation and manufacturing costs, then the war in Ukraine.^2 Some
people have even blamed increased wages for working-class Americans.^3 But
the biggest culprit? 

Corporate greed.

One of the big bads responsible for taking food off our plates is Tyson
Foods, one of the largest food production companies in the United States.
Tyson Foods has artificially increased prices, far out-tracking inflation
and increases in manufacturing costs. The company’s average prices for
beef rose nearly 25% since last year, with chicken and pork prices rising
14.4% and 10.8% over the last year, respectively, with some reports saying
that Tyson increased its chicken prices by up to 20.1% in recent weeks.^4
These increases led Tyson Foods to record nearly double its profits in
that same time period, and they’ve even refused to comply with New York
Attorney General’s subpoena when she sought information for a meat price
gouging probe.^5,6 Everyone is paying more for everything, and most price
hikes are for no other reason than to deliver higher profit margins to
shareholders.

[ [link removed] ]TEll Tyson Foods: Corporate greed is unsustainable! 

The actions by companies like Tyson Foods are hurting all Americans, but
especially Black households. Working-class households remain the most
vulnerable to economic shocks; due to long-standing racial and economic
inequities, Black households are more likely to spend more on basic
necessities while also struggling economically and therefore suffer the
worst effects of all economic downturns.^7,8 Many Black households are
forced to choose between food and housing, both essential resources that
have been among the hardest hit with increased costs.^9 This is inhumane
and must stop.

Reporting record profits while people struggle to afford the basic
necessities is unsustainable. Even Wall Street agrees; finance experts
have voiced concerns about the rapid increase in food prices and believe
the model to be unsustainable.^10 Why? Food prices are climbing at the
fastest pace since 1981.^11,12 The cost of eggs, chicken, milk and beef,
and fish and seafood have increased by 22.6%, 16.4%, 15%, and 11.9%,
respectively, between April 2021 and April 2022. Across the board, food
prices rose nearly 11% between May 2021 and May 2022.^13 Despite lower
manufacturing and transportation costs compared to the beginning of the
COVID-19 pandemic, corporations like Tyson Foods have continued to
increase their prices and are reporting historic profits while many
Americans struggle to put food on the table. The graph below shows how
much common food items have increased since last April:

[ [link removed] ][IMG]

As the graph shows, most of these foods have increased past the point of
inflation, but companies like Tyson Foods are using inflation as an excuse
to raise prices and gouge their customers for millions of dollars in
historic profits. When people are suffering, corporations shouldn’t take
advantage of us by bleeding us dry. Due to the increase in necessities
like food, Americans are going into credit card debt faster than they have
in the last 20 years.^14 People shouldn’t have to go into debt to pay for
food, especially while corporations like Tyson Foods make record profits.
Simply put, corporate greed puts people’s lives at risk.

[ [link removed] ]TELL TYSON FOODS: PUT YOUR CUSTOMERS OVER YOUR PROFITS!

In a society where consumer choice is limited, companies like Tyson Foods
have too much power. That’s why we’re demanding that Tyson Foods
immediately roll back its prices to pre-pandemic levels and commit to
maintaining those prices for the next year. Black communities are
struggling with the economic fall-out from the COVID-19 pandemic, and
corporate greed only serves to bleed us dry. Tyson Foods must do better.
[ [link removed] ]Take action today.

Until justice is real, 
—COC's Tech Accountability Team

 

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References: 

 1. Rob Wile, “Food prices soar to 40-year highs, pinching shoppers at
groceries and restaurants,” NBC News, June 10, 2022,
[ [link removed] ][link removed]

 2. Holly Ellyatt, “From soaring food prices to social unrest, the fallout
from the Russia-Ukraine war could be immense,” CNBC, April 21, 2022,
[ [link removed] ][link removed]

 3. Ines Santos and Luca Goldmansour, “ Blaming Workers, Hiding Profits in
Primetime Inflation Coverage,” FAIR, April 21, 2022,
[ [link removed] ][link removed]

 4. Tom Polansek and Deborah Mary Sophia, “Tyson Foods raises annual sales
forecast as U.S. meat prices soar,” Reuters, May 9, 2022,
[ [link removed] ][link removed]

 5. “Tyson Foods’ higher meat prices nearly doubles profits,” CNBC,
February 7, 2022,
[ [link removed] ][link removed]

 6. Jonathan Stempel, “Tyson Foods refusing to comply with subpoena for
meat price gouging probe, NY attorney general says,” Reuters, August
3, 2022,
[ [link removed] ][link removed]
 7. Allison Gaines, “Why Black Families Are Suffering the Worst Effects
From Rising Inflation,” Medium, January 26, 2022,
[ [link removed] ][link removed]

 8. Derek Saul, “Black And Hispanic Households Hit Harder By Inflation—On
Top Of Economic Inequality Caused By The Pandemic,” Forbes, July 1,
2022,
[ [link removed] ][link removed]

 9. Greg Iacurci, “There is ‘nowhere to hide’ for consumers as inflation
hits food, gas, housing,” CNBC, March 10, 2022,
[ [link removed] ][link removed]

10. More Perfect Union, untitled Twitter thread, June 7, 2022,
[ [link removed] ][link removed]

11. Jessica Dickler, “Two-thirds of Americans live paycheck to paycheck as
inflation continues to climb,” CNBC, May 11, 2022,
[ [link removed] ][link removed]

12. Kenny Torrella, “Why meat is so expensive right now,” Vox, June 7,
2022,
[ [link removed] ][link removed]

13. Derek Saul, “Black And Hispanic Households Hit Harder By Inflation—On
Top Of Economic Inequality Caused By The Pandemic,” Forbes, July 1,
2022,
[ [link removed] ][link removed]

14. Jaclyn Peiser, “Credit card debt surges as inflation pushes Americans
to borrow more,” Washington Post, August 2, 2022,
[ [link removed] ][link removed]



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