Tell These Corporations: Stop Taking Food Off Our Plates!
The cost of food has increased 10.1% on average from May 2021 to May 2022, with take-home groceries rising by 11.9%. But why?
Corporate giants like Tyson Foods, Nestle, and PepsiCo. are raising prices higher and faster than necessary, blaming it on inflation while raking in billions of dollars in record-setting profits.
Food prices are climbing at the fastest pace since 1981., The cost of eggs, chicken, milk and beef, and fish and seafood have soared by 22.6%, 16.4%, 15%, and 11.9%, respectively, between April 2021 and April 2022, significantly outpacing the rate of inflation and other business costs. Across the board, food prices rose nearly 11% between May 2021 and May 2022.
Despite lower manufacturing and transportation costs compared to the beginning of the COVID-19 pandemic, large corporations are still hiking their prices, knowing most of us have no choice. These food giants are squeezing more dollars – and profits – out of hard-working Americans, who are just trying to put food on the table.
The price gouging by Tyson Foods, Nestle, PepsiCo, and more is especially tough on the Black community. Working-class households are most vulnerable to economic shocks due to long-standing racial and economic inequities. Black households, on average, are more likely to pay inflated prices for basic necessities while also struggling financially; therefore, they suffer the most during an economic downturn. Many Black households are forced to choose between food and housing, both essential expenses that have had the highest price increases.
Corporate profiteering on food, a basic necessity, is inhumane and must stop. Take action today to demand that major food manufacturers put their customers over their profits!
Here is the Petition:
Donnie King, Ramon Laguarta, and Ulf Mark Schneider,
While Tyson Foods, PepsiCo, and Nestle continues to hike prices, Americans are struggling.
The actions by companies like these are hurting all Americans, but especially Black households. Working-class households remain the most vulnerable to economic shocks; due to long-standing racial and economic inequities, Black households are more likely to spend more on necessities while also struggling economically and therefore suffer the worst effects of all economic downturns. Many Black households are forced to choose between food and housing, both essential resources that have been among the hardest hit with increased costs. This is inhumane and must stop.
We demand that these companies immediately roll back its prices to pre-pandemic levels and commit to maintaining those prices for the next year. Your companies can be a leader in a difficult time. You can and must do better.