FTC to investigate grocery prices

The U.S. Federal Trade Commission (FTC), led by Chair Lina Khan, is set to investigate the persistence of high grocery prices despite a decline in retail costs. This initiative aims to uncover whether major grocery chains, including Walmart, Costco, Amazon, and Target, are exploiting their market power to inflate prices for consumers. Khan emphasized the importance of transparency in pricing practices at a recent public meeting with the Department of Justice. Recent statistics show that grocery prices have surged by approximately 25% from 2019 to 2023, significantly outpacing inflation in other consumer goods. The FTC's inquiry aligns with the Biden administration's broader efforts to reduce costs for American families ahead of the presidential election. Additionally, the commission is scrutinizing how companies utilize customer data to set personalized pricing.