Huffington Post: Report Claims Inflation Woes Driven Largely By Corporate Greed
The paper boosts the controversial progressive argument that corporations are squeezing American households just because they can.
By SARAH BOBOLTZ
A new report from a progressive think tank argues that Americans’ recent inflation woes were driven by companies that kept their prices high even as costs have come down in recent months, in order to increase their profit margins.
The Groundwork Collaborative’s report, first reported by The Guardian, says that corporate profits are behind 53% of inflation over the second and third quarters of 2023.
At the height of the COVID-19 pandemic, the report’s authors noted, “virtually every company in every industry faced rising costs to make products and stock shelves.” The Ukraine war also worsened energy costs and hit supply chains.