FTC Calls for Deeper Probe Into Grocery Stores' Pandemic Price Hikes and Record Profits

• U.S. Federal Trade Commission (FTC) recommends policymakers further investigate elevated grocery store profits since the pandemic

• FTC found annual profits for food and beverage retailers rose substantially, casting doubt on claims that rising prices simply reflect rising costs

• FTC says reduced trade promotions during pandemic, which benefited retailers like Walmart over traditional grocers, warrant more study

• Findings did not directly inform FTC's move to block Kroger's acquisition of Albertsons

• FTC says report sheds light on market conditions beyond law enforcement, leaves open possibility of further action