Report: Corporate Greed Fueled Over Half of 2021 Inflation While Execs Boasted of Profits
• Report finds high corporate profits accounted for 53% of inflation in mid-2021, vs 11% historically • Companies kept prices high even as costs dropped; executives bragged about widening profit margins • Prices rose in 2021 due to supply chain issues and labor costs; many of those cost pressures have eased • Diaper prices up 30%+ since 2019 despite 25% drop in key input costs; companies boast of profit growth • Authors call for stronger action like price controls seen in France and changes to corporate tax code