Did you ever think you would see a $10 tube of toothpaste in New Jersey?
Get ready. It’s coming!
Colgate is presently marketing a $10 tube of toothpaste. But, let your heart not be troubled, it will contain 5 percent hydrogen peroxide, “with demonstrated efficacy to whiten teeth,” said Colgate.
Do you remember not long ago being able to get a large bottle of hydrogen peroxide at a dollar store?
We are in an era of what is officially being called “Runaway Inflation,” which by definition means, “a situation in which something increases or develops very quickly and cannot be controlled.”
The current hyperinflation, once described by The White House and Federal Reserve Board as “transitory (brief) is now expected to last through all of 2022 … and, may persist into 2023.
Colgate is joining a long list of American companies that are touting price hikes and paying more to investors at the expense of too high prices for consumers.
The country has also recently experienced Dollar Tree becoming $1.25 stores and beyond.
Retailers are currently raising prices like never before. United States Congressman David Cicilline is currently working on proposed antitrust legislation, with the goal of bringing these high retail prices down. “They’re Imposing real hardships. People are taking things out of their grocery carts because it’s too expensive, said Cicilline in a recent Reuters news interview.
Cicilline represents the 1st Congressional District in Rhode Island and serves on the House Judiciary Committee.
The U.S. Trade Commission is getting in on the act. Over the past three months, they have requested internal company documents on profit margins, pricing abs promotions from:
- Proctor & Gamble
- Kraft Heinz Company
- Kroger Company
Their comments on this inquiry are due by March 14, 2022.
Cicilline cited Colgate as a company that is touting huger prices in pursuit of higher profits.
The $10 tube of toothpaste is just one example. The high prices are happening across the board.
At the same time, energy prices are also skyrocketing at the same time.
Prices rose precipitously during the COVID-19 pandemic because the price of raw materials had skyrocketed and the supply chain was hopelessly broken.
Many now believe that this is no longer the case and feel that companies are taking advantage of the American consumers.
SOURCES: Colgate, United States Congressman David Cicilline and Reuters News Service.
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