Some Economists Say Corporate Greed Is the Real Culprit Even as Companies Blame Inflation for Higher Costs
Taking inflationary pressures into account, total overhead costs have only increased about 15% during the pandemic, yet the EPI analysis found companies on average have tacked 53.9% to the final cost of products, a 42% increase from a pre-pandemic level of 11.4% on average.
“They were explicit about it,” said Mabud. Basically the company said, “because we produce essential goods, our customers are not going to stop buying our products.”that the CEO of H.B. Fuller, a large adhesive company, recently told analysts that the company is starting to save money as some of the pandemic-related inflationary costs are declining. But CEO Jim Owens added they don't plan on passing any of those savings back to the consumer.
“How long can continue to do this?” Reich asked. “That depends on how long consumers are willing and able to pay for the higher prices.” and financial system, has been aggressively raising interest rates to try to cool the price spikes. But so far, there's little sign of progress.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Opinion | It's the Corporate Greed, Stupid'We're four days before one of the most consequential elections in history. Democrats should be—and should have been—raising the alarm about corporate power.'
Read more »
Opinion: Inflation is not the biggest thing this country should be worrying aboutOpinion: Inflation is not the biggest thing this country should be worrying about [Opinion]
Read more »
‘Everything Was Incredibly Challenging and Beautiful at the Same Time’'Ramy' captures life in Palestine while exposing its protagonist’s greed. roxana_hadadi reports on the making of the series' ambitious, uncomfortable, and exemplary season-three episode “Egyptian Cigarettes”
Read more »
Biden stumps on job growth, as voters dread inflationPresident Joe Biden has notched an envious record on jobs, with 10.3 million gained during his tenure.
Read more »
Joe Russo Calls ‘Batgirl’ Cancellation 'Corporate Sociopathy'Joe Russo calls the 'Batgirl' cancellation 'corporate sociopathy.'
Read more »
These grocery chains are lowering Thanksgiving food prices to fight inflationAldi and Walmart are doing the time warp to ensure you save some money at the check out line this holiday season.
Read more »