CT Attorney General Investigates Grocery Price Gouging

Connecticut Attorney General William Tong launched an investigation Thursday into whether grocers have engaged in price gouging, reports New Haven Register.

The Attorney General said that he is preparing to ask every grocery retailer in the state to reveal information about their profits and the prices they’ve had to pay suppliers since the pandemic, according to the report. Tong endeavors to determine whether the cost increases have been commensurate with price hikes.

He cited national studies to argue that industry consolidation and profits have led to inflation.

“The number of major grocery chains is dwindling and the number of independent grocery retailers is dwindling every single day,” said Tong. “As choice becomes ever more restricted, those prices will continue to go up.”

Currently, Tong has the power to deal with retailers but not suppliers regarding price-gouging practices; however, State Senate Democrats are fighting for an amendment that would likely give him increased authority to conduct more thorough inquiries. The Connecticut Senate Bill 121 would allow Tong to enforce the Dodd-Frank Wall Street Reform and Consumer Protection Act, a federal law that promotes financial stability, accountability, and transparency.

The proposed amendment includes language granting the attorney general the ability to prosecute price-gouging outside of emergency declarations. Full Story