Posted 1/21/2024, 12:04:03 AM
Report: Corporate profiteering driving over half of inflation as companies keep prices high despite falling costs
- Report claims over 50% of recent inflation driven by companies keeping prices high despite falling costs
- Companies taking advantage of customers expecting to pay more, engaging in "profiteering"
- Diaper industry example - prices up 30% despite costs falling, 2 companies control 70% of market
- Supports progressives' "greedflation" argument that corporate greed hurting Americans
- Hotly debated idea - Fed economist report argued profits not abnormally high