Posted 12/8/2023, 11:27:00 AM
Study: Few big companies profiteered from inflation, raising prices beyond cost increases
- Study finds companies lied about inflation, profiting from "greedflation" as prices rose faster than costs
- Profits for big companies rose 30% between 2019-2022, far outpacing inflation
- Just 11% of UK firms and a third of US firms drove most of the profit increases
- Biggest greedflation offenders were energy and food companies benefiting from supply issues
- Some companies now cutting prices as inflation stabilizes, but era of high profits drew accusations of greed hurting consumers