As corporate profits remain at all-time highs, a new report shows that more than half of rising consumer prices in 2023 were caused by corporate greed, or “greedflation.”
Elizabeth Pancotti – strategic advisor with the DC-based think tank Groundwork Collaborative – said before the pandemic, corporate profits drove just 11% of price growth.
But even after supply chain snarls were resolved, companies chose not to pass savings along to customers.
“Keeping sticker prices much higher…