WASHINGTON — Vice President Kamala Harris is focusing on the issue of soaring food prices as she prepares to deliver an economic policy speech in North Carolina on Friday. Her address will emphasize a proposed federal ban on price gouging for groceries.
Harris highlights the significant rise in meat prices, which she notes are a major contributor to escalating grocery bills.
While year-over-year inflation has reached its lowest level in over three years, many Americans continue to face elevated food prices, which are currently 21% higher than they were three years ago. The rising cost of living has become a key point of critique against the Biden administration by political opponents.
In addition to food prices, Harris is also addressing drug costs, as evidenced by her recent event with President Joe Biden in Maryland. During this event, they announced that newly negotiated drug prices could reduce costs by hundreds, or even thousands, of dollars for ten of Medicare’s most frequently used and pricier medications.
President Biden has initiated several strategies to tackle rising food costs, including the establishment of a “competition council” aimed at enhancing competition within the meat industry, which is part of a larger effort to demonstrate that the administration is actively addressing inflation concerns.
