Rising food prices are helping boost sales and profits for U.S. grocery chains, as some retailers said that consumers so far are accepting higher prices.
Supermarket operators including Albertsons Kroger and others are reporting rising sales, driven by increasing food prices and consumers continuing to prepare many meals at home. Profits are rising for grocery chains too as they raise prices of many products rather than absorb all increases, though some executives have said that inflation is starting to alter consumers’ shopping habits.
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