Thinktank report says ‘resounding evidence’ shows companies continue to keep prices high even as their inflationary costs drop
A new report claims “resounding evidence” shows that high corporate profits are a main driver of ongoing inflation, and companies continue to keep prices high even as their inflationary costs drop.
The report, compiled by the progressive Groundwork Collaborative thinktank, found corporate profits accounted for about 53% of inflation during last year’s second and third quarters. Profits drove just 11% of price growth in the 40 years prior to the pandemic, according to the report.
About Author
More Stories
Bodies recovered from illegal goldmine in South Africa where many feared dead
‘Don’t allow you to go to the bathroom’: big tech’s call center workers in Greece on strike
US sues Elon Musk for allegedly failing to disclose early Twitter stock purchase