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Consumers Think Food Prices Still Too High

While inflation has eased somewhat, food prices are still high. A study conducted by the University of Illinois and Purdue University asked consumers what type of companies they believe are behind high food prices.

“Consumers are frustrated with many downstream actors, like food manufacturers, grocery stores, and restaurants, feeling these groups are overcharging them,” says Brenna Ellison, a Purdue economist and co-author of the study.

Two-thirds of consumers consider food manufacturers too big, and over half believe grocery stores have too much control or market share. The survey showed consumers felt farmers were the least to blame. More than 70 percent of consumers believe that restaurants, grocery stores, and food manufacturers are overcharging them. Despite political differences, a significant number of consumers across party lines share concerns about the size of food manufacturers and grocery stores, indicating a bipartisan worry regarding market power despite often significant political differences in the respondents.

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