"In the past, corporate profit growth accounted for maybe a third of inflation. But a report from the Kansas City Fed found that nearly 60% of inflation in 2021 was because of corporate profits."
I have been reading a lot lately about grocery companies and other distributers of essential products realizing much, much higher profits lately. I would like Krugman to address this directly.
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There are numerous studies that have been done that show that corporate profiteering (price gouging) for a percentage of inflation before the pandemic was at about 11%.
That number has jumped to 51% for ALL inflation. (and rising)
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