'Excess profits' at big energy and consumer companies pushed up inflation, report claims
Publishing timestamp: 2023-12-08 01:52:54
Summary
A new report suggests that major companies in the energy and food sectors have contributed to higher and more persistent inflation by passing on greater cost increases to consumers. The report argues that market power and temporary market power have amplified inflation, but corporate profits were not the sole driver of inflation. The impact of "greedflation" or companies raising prices more than necessary to protect margins has been contested.
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