On Thursday, during a virtual public meeting hosted by the FTC and the Department of Justice, Khan said the probe would “shed light” on why prices and profits at grocery chains “remain so high even as costs appear to have come down.”

"We want to make sure that major businesses are not exploiting their power to inflate prices for American families at the grocery store,” she said.

Khan plans to formally ask the FTC to launch an inquiry, but the process will only proceed if the commission votes in favor of it. Should the inquiry gain approval, the agency would require big grocery chain operators to provide information on their sales, costs, and profits for commonly purchased items.