The Biden administration takes aim at Big Chicken. But its goose might not yet be cooked
As consumers chafe at growing food price inflation, the Biden administration is pointing a finger at some of the country's largest meat companies, suggesting pandemic profiteering may be responsible for the steep rise in the prices of beef, pork and poultry.
Recently, the prices for beef, pork and poultry have all increased far more than other kinds of food, accounting for as much as half of price inflation at grocery stores.
National Economic Council Director Brian Deese has drawn connections between consolidation in the meat industry and increasing prices of meat. A July executive order focused on antitrust enforcement, directly addressing meat industry consolidation.
Unsurprisingly, the meat industry has pushed back against the White House's allegations. So have some economists, saying consolidation is not entirely to blame for higher prices. As with other industries, escalating costs in the meat business have driven up prices: Rises in feed, labor, transportation and packaging costs - along with pandemic-related labor shortages - have caused beef, chicken and poultry producers to pass those increases along to consumers.
https://www.yahoo.com/news/biden-administration-takes-aim-big-131347961.html
