Friday morning, Fox's America's Newsroom went into bizarroland on a segment about Nestlé's CEO claiming they will be raising prices because of "inflation."
Inflation is at a 40 year high? Guess what. Corporate profits are at a fifty-year high. Maybe, just maybe, the two are connected. Nestle doesn't hold back that fact when talking to their shareholders:
But for Fox, any news is an excuse to pile on the Biden administration. The supposed "straight news" host Sandra Smith made this outrageous claim.
"I have the milk-o meter," Smith chimed.
"I bought a gallon of milk last night, granted if you live in New York, things are higher price than a lot of other areas in the country," she said.
Smith claimed, "It's nearly $11 for a gallon of milk at a New York grocery store, just saying."
Hemmer whined that KFC raised prices on his usual three-piece chicken meal. I think he can afford it, no problemo.
Looking at the USDA agricultural marketing service for retail milk prices, The Dept. of Agriculture reports that as of March 25, in New York, the price of a gallon of milk was $4.69.
If Sandra Smith is paying almost $11 for milk, it's the grocery store that is ripping her off, and not inflation.
Or as my colleague Fran Langum quipped, "She's pouring White Russians on her cornflakes."