WASHINGTON – Vice President Kamala Harris is set to address the issue of high food prices in her upcoming economic policy speech in North Carolina. She plans to advocate for a federal ban on price gouging in the grocery industry, with a focus on rising meat prices that are contributing to increased grocery bills for many Americans.
Harris is highlighting the fact that despite year-over-year inflation reaching its lowest level in more than three years, food prices in the US are still 21% higher than they were three years ago. This has become a key point of contention, with former President Donald Trump criticizing the Biden administration’s energy policies for failing to curb inflation.
Additionally, Harris is addressing the issue of drug costs, with President Joe Biden announcing drug price negotiations that will lower the prices of 10 of Medicare’s most expensive drugs, potentially saving consumers hundreds or even thousands of dollars.
Biden himself has taken steps to address rising food prices by creating a competition council to increase competition in the meat industry, part of a broader effort to combat inflation and show his administration’s commitment to addressing economic concerns.
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