Biden takes aim at grocery stores for 'ripping people off' amid continued high prices: 'Played for suckers'

 President Joe Biden took aim at grocery stores, accusing them of "cheating people" with high pricing amid a blame game over inflation.

President Biden's comments came during a speech at the South Carolina First Nations Dinner in Columbia, South Carolina.

"Inflation is coming down. It is now lower in the US than in any other major economy in the world," Biden said. "The prices of eggs, milk, chicken, gas and many other essential commodities have gone down."

The president continued, "But despite everything we've done to bring prices down, there are still too many corporations in America robbing people: price gouging, junk tariffs, greed inflation, shrink inflation."

The president said Americans are "tired" of being "played for fools" by grocery stores across the country.

"Okay, this has to stop. Americans, we are tired of being played for fools," Biden said to applause. “And that's why we're going to keep these guys – retain them and keep the prices down.”

The president's comments come as inflation still looms over the heads of many Americans as they head to the grocery store.

A recent Axios Vibes survey found that 59% of respondents felt "angry, anxious or resigned" when shopping for groceries, with anger being the most common emotion. Seventy-two percent of respondents also said groceries are where they feel the most impact of inflation.

Although inflation has fallen significantly from record highs in 2022, prices are still significantly higher than before 2020.

Based on data from the Bureau of Labor Statistics, Americans will spend about $125.51 on groceries that would have previously cost $100 in December 2019.

The Federal Reserve kept interest rates on hold for the fourth consecutive time on Wednesday, keeping interest rates unchanged at between 5.25% and 5.5%, the highest level in 22 years.

New survey finds inflation still hitting Americans hard

“When considering any adjustment to the target range for the federal funds rate, the Committee will carefully assess incoming data, the emerging outlook, and the balance of risks,” a statement from the Federal Open Market Committee said. "The Committee does not expect that it would be appropriate to lower the target range until it is confident that inflation is moving steadily toward 2 percent."

Fox Business calculations found that since the beginning of 2021, food prices have increased by 33.7%, shelter costs have increased by 18.7% and energy prices have increased by 32.8%. Moody's Analytics also reported that Americans spent $211 more per month than the same period last year.

Overall, Americans are now paying an average of $1,020 more per month than the same period two years ago.

Biden has frequently promoted "Bidennomics" and touted the December data as a sign of economic recovery.