Food companies are robbing us.

 

Hi, John: 

Most of us have gone to a supermarket over the past few months, and left the store wondering why there’s even less money left over after the groceries have been bagged. It’s not your imagination: food prices are increasing, and it doesn’t look like they’re slowing down anytime soon. 

Even Grammy award-winning artist Cardi B knows what’s up. She took to Twitter at the beginning of the year with the complaint we’ve all had on our minds: 

 

She doubled down in a video a day later, saying that if a superstar rapper like her thinks food prices are “crazy,” she “can only imagine what middle class people or people in the hood… [are] thinking.”1

Cardi B makes an important point. We all know that when things are bad for white America, they are far worse in the Black community.

The replies to that video are littered with false information about why there’s more pain in the grocery checkout line, but don’t be fooled; the real culprit is corporate greed.

Tell Major Food manufacturers: put people over profits!

Corporate giants like Tyson Foods, Nestle, and PepsiCo. are raising prices higher and faster than necessary, blaming it on inflation while raking in billions of dollars in record-setting profits. Even Wall Street agrees the situation is unsustainable.2

The data shows why: Food prices are climbing at the fastest pace since 1981.3,4 The cost of eggs, chicken, milk and beef, and fish and seafood have soared by 22.6%, 16.4%, 15%, and 11.9%, respectively, between April 2021 and April 2022, significantly outpacing the rate of inflation and other business costs. Across the board, food prices rose nearly 11% between May 2021 and May 2022.5 

Despite lower manufacturing and transportation costs compared to the beginning of the COVID-19 pandemic, large corporations are still hiking their prices, knowing most of us have no choice. These food giants are squeezing more dollars – and profits – out of hard-working Americans, who are just trying to put food on the table.

The price gouging by Tyson Foods, Nestle, PepsiCo, and more is especially tough on the Black community. Working-class households are most vulnerable to economic shocks due to long-standing racial and economic inequities. Black households, on average, are more likely to pay inflated prices for basic necessities while also struggling financially; therefore, they suffer the most during an economic downturn.6,7 Many Black households are forced to choose between food and housing, both essential expenses that have had the highest price increases.8 

Corporate profiteering on food, a basic necessity, is inhumane and must stop. Join us and demand that major food manufacturers put their customers over their profits.

TELL large food manufacturers: Stop taking food off our plates!

Until justice is real,

— The Color Of Change Team

References:

  1. Cardi B, CB [@iamcardib]. (2023, January 3). Naaaaaa grocery shopping prices are ridiculous right now… You might as well eat outside !! [Tweet]. Twitter. https://act.colorofchange.org/go/386635?t=8&akid=55509%2E4731121%2E_PhdZE

  2. More Perfect Union, untitled Twitter thread, June 7, 2022, https://act.colorofchange.org/go/359288?t=10&akid=55509%2E4731121%2E_PhdZE

  3. Jessica Dickler, “Two-thirds of Americans live paycheck to paycheck as inflation continues to climb,” CNBC, May 11, 2022, https://act.colorofchange.org/go/359289?t=12&akid=55509%2E4731121%2E_PhdZE

  4. Kenny Torrella, “Why meat is so expensive right now,” Vox, June 7, 2022, https://act.colorofchange.org/go/359290?t=14&akid=55509%2E4731121%2E_PhdZE

  5. Derek Saul, “Black And Hispanic Households Hit Harder By Inflation—On Top Of Economic Inequality Caused By The Pandemic,” Forbes, July 1, 2022, https://act.colorofchange.org/go/359286?t=16&akid=55509%2E4731121%2E_PhdZE

  6. Allison Gaines, “Why Black Families Are Suffering the Worst Effects From Rising Inflation,” Medium, January 26, 2022, https://act.colorofchange.org/go/359285?t=18&akid=55509%2E4731121%2E_PhdZE

  7. Derek Saul, “Black And Hispanic Households Hit Harder By Inflation—On Top Of Economic Inequality Caused By The Pandemic,” Forbes, July 1, 2022, https://act.colorofchange.org/go/359286?t=20&akid=55509%2E4731121%2E_PhdZE

  8. Greg Iacurci, “There is ‘nowhere to hide’ for consumers as inflation hits food, gas, housing,” CNBC, March 10, 2022, https://act.colorofchange.org/go/359287?t=22&akid=55509%2E4731121%2E_PhdZE