Inflation, grocery prices a top issue

Expensive Big Mac meals and fears of surge pricing at grocery stores have put food chains and consumer product companies in politicians’ crosshairs.

Walmart, McDonald’s and Kroger are just a few of the companies that have found themselves in the debate over high inflation in the 2024 election.

On Monday, Sens. Elizabeth Warren, D-Mass., and Bob Casey, D-Pa., sent a letter to Kroger CEO Rodney McMullen that questioned the grocer’s rollout of electronic shelf labels, arguing the technology could make it easier to increase the price of high-demand items. The letter also noted that the supermarket chain could become bigger, depending on whether it closes its pending $24.6 billion acquisition of rival Albertsons.

Democrats — particularly those like Casey who are trying to win races in competitive swing states — are trying to capitalize on frustration against companies over inflation. The moves follow years of Republican attempts to blame the price hikes on President Joe Biden, who has also criticized corporations for what he called greedy tactics.

For instance, an X account run by House Republican leadership criticized Biden’s economic policies in late May by listing some of the popular fast-food menu items that customers now pay more for at McDonald’s, Chick-fil-A and Taco Bell. (The source of the data is unclear, and McDonald’s has denied that its average prices have risen that much.)

On the presidential campaign trail now, both Democratic Vice President Kamala Harris and Republican former President Donald Trump have pledged to fight persistent inflation, while blaming different causes.

Harris has said during rallies that she’ll fight “price gouging” by companies. At his own rallies, Trump has criticized Biden administration policies and said he’ll end the “inflation nightmare.”

The fact that both parties have made fighting inflation a key campaign plank shows how much the cost of food, gas and shelter is on the minds of consumers across income levels, regions and political parties. The criticism could also add to the pressure companies face to show they can lower prices or offer value.

Inflation has cooled from decades-high levels, with groceries up about 1.1% year over year as of June, according to data from the U.S. Bureau of Labor Statistics. But food at home is up 26.2% since June 2019 and food away from home, which mostly includes restaurant meals, is up 27.2% in the same period.

Americans ranked inflation and prices as their most important issue in the latest The Economist/YouGov poll, which included a representative sample of roughly 1,600 U.S. adult citizens. That was ahead of other themes that have come up on the campaign trail, including immigration, climate change and health care.

Promising to tackle higher everyday costs is a safe campaign issue during contentious times, said Cait Lamberton, a professor of marketing at…