Posted 1/20/2024, 10:00:00 AM
Over Half of 2022 Inflation Due to Corporate Greed and Excessive Profits, Study Finds
- Study finds over 50% of 2022's inflation surge was due to corporate greed and excessive profits, which remain at record highs
- Corporations quickly passed on input cost increases to consumers, but inflation would have been 1-3 points lower if they had only passed on those cost increases
- Companies are maintaining high prices and profit margins even as costs fall, hurting consumers and workers
- Analysts argue high corporate profits have pushed inflation much higher than supply chain issues alone would have
- In Europe, some supermarket chains are dropping major brands like Pepsi and Oreos to protest price hikes amid high corporate profits