Consumers are wising up to 'greedflation' as food companies keep prices high

Fri, 04/28/2023 - 13:22

A person is shopping for fruit at a grocery store. — A majority of consumers say that food companies are using inflation as a cover to raise prices, a survey from Attest says.
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Most consumers think food brands are using inflation "as an excuse to hike prices," a survey says.
The idea, known as "greedflation," says that companies are improving their profit margins.
PepsiCo, Nestlé, Conagra, and other food companies say they are trying to cover their costs.

Inflation is cooling off for many products. But grocery prices have remained stubbornly high.

Shoppers think "greedflation" is to blame, according to a new survey.

Eighty percent of shoppers said that food companies are "using inflation as an excuse to hike prices," according to a poll conducted by consumer research company Attest. The poll was conducted in February among 2,000 working-age consumers in the US, Attest said.