Tag: corporate profits soar

It’s Not ‘Inflation’ — We’re Just Getting Ripped Off. Here’s Proof.

Guest Post by ,

It’s Not ‘Inflation’ — We’re Just Getting Ripped Off. Here’s Proof.

Many Americans are still experiencing the sticker shock they first faced two years ago when inflation hit its peak. But if inflation is down now, why are families still feeling the pinch?

The answer lies in corporate profits — and we have the data to prove it.

Our new report for the Groundwork Collaborative finds that corporate profits accounted for more than half — 53 percent — of inflation from April to September 2023. That’s an astronomical percentage. Corporate profits drove just 11 percent of price growth in the four decades prior to the pandemic.

Continue reading “It’s Not ‘Inflation’ — We’re Just Getting Ripped Off. Here’s Proof.”

Corporations Reaping Record Profits From Price Hikes That Gouge Consumers

Guest Post by Kenny Stancil

record profits price hikes feature

As inflationary pressure drives up costs throughout the economy, a new analysis out Wednesday reveals that corporations are raking in record profits by jacking up prices at the grocery store, gas pump and beyond — hurting consumers while rewarding investors.

The Guardian, which examined Securities and Exchange Commission filings for 100 U.S. companies, found that net profits increased by a median of 49% from the first quarter of 2020 to the first quarter of this year.

Over the same time period, workers’ wages grew by just 1.6%.

These corporations have boosted their profit margins over the past two years by charging more for food, fuel, housing and other basics — using inflation as a pretext to raise prices, negating the modest wage gains that workers made during the coronavirus pandemic.

All but 10 have engaged in stock buybacks or dividend bumps to enrich shareholders.

Continue reading “Corporations Reaping Record Profits From Price Hikes That Gouge Consumers”