Inflation or profiteering? Advocacy group says companies raising prices under cover of inflation
Inflation dipped to 8.5% in the latest federal report released this week, but some economists say it would be lower if it wasn't for corporate profiteering.
One after another, corporations are reporting record profits while inflationary pressures send the prices the general public pays skywards. Companies say they need to raise their prices to keep up with their rising costs. But now some are questioning whether those prices are being jacked up beyond what's necessary.
Rakeen Mabud of the economic policy project, the Groundwork Collaborative, keeps a close ear on corporate earnings calls and an eye on quarterly reports.
She's seen what she considers a disturbing trend.
https://abc7news.com/corporations-and-inflation-greedflation-profiteering-price-gouging/12120449/
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