In a popular New York Times Tik Tok, Stacy Mitchell explained why we need to look past the headlines about inflation to understand why our grocery bills are still rising. Watch the Tik Tok here or below.
@nytopinion “To understand why grocery prices are way up, we need to look past the headlines about inflation,” writes Stacy Mitchell in an essay for @nytopinion. The real issue, according to Stacy, is that big retailers are “exploiting their financial control over suppliers to hobble smaller competitors.” Major corporations like Walmart and Kroger negotiate deep discounts from suppliers, making it impossible for local stores to compete with the chains’ prices. “When Walmart demands special deals, suppliers can’t say no,” she writes. “And as suppliers cut special deals for Walmart and other large chains, they make up for the lost revenue by charging smaller retailers even more.” The result is independent grocers getting forced out of business, which disproportionately affects rural small towns and Black and Latino neighborhoods. Read more at the link in our bio. #inflation #groceryprices #capitalism #nytopinion ♬ original sound – New York Times Opinion
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