Think the cost of food is high? Just wait.

Last week, Kroger announced plans to acquire Albertsons in a staggering $24.6 billion deal. If the deal goes through, it will merge the number one and number two stand-alone grocery chains which together operate nearly 5,000 stores around the country and generate more than $200 billion in revenue each year.

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In reality, the merger will further consolidate the grocery store market. Right now, before the merger, according to the National Grocers Association, five companies control a stunning 60% of all U.S. grocery sales. After the merger, the combined company plus Walmart, by far the largest food seller, would control nearly 50% of the market.

That kind of concentration will lead to the loss of jobs for workers, rising prices for consumers and monopoly profits for the companies. Working families are already stretching to meet their food needs, as food prices are rising rapidly. Eggs are up over 30% for the year; chicken over 17% and coffee over 15%. As the American Economic Liberties Project summarized, this merger “would be disastrous for market competition, small businesses and especially consumers’ pockets.”

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