The food industry is rebutting against claims it is ripping off U.S. consumers after Democratic presidential nominee Vice President Kamala Harris called for a federal ban on “price gouging,” Jesse Newman and Sarah Nassauer of The Wall Street Journal reports. Harris has blamed corporate greed for food-price inflation, but executives claim costs ranging from labor to coca have surged and profit margins must be maintained to fund the development of new products. Americans now spend more of their income on food than prior decades. Companies in the space include Kellanova (K), Kroger (KR), Albertsons (ACI), Kraft Heinz (KHC), and Mondelez (MDLZ).
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