The average profit margin for a grocery store was just 2.3% in 2022, significantly below the average business profit margin of 8 to 9%, raising doubts about claims of price gouging.
Kamala Harris proposed a federal ban on price gouging, claiming corporations unfairly exploit consumers for profit, yet the grocery sector's low margins challenge this narrative of exploitation.
Political expedience often leads to blaming companies for inflation, creating a facade of logic for price control policies. However, historical evidence shows these policies have generally failed.
The argument against grocery price gouging overlooks the reality that retail operates on low margins, making it unlikely for consumers to be exploited by grocers.
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