Economics
Inflation Is Being Driven By Corporate Price Gouging
The Institute for Public Policy Research (IPPR) and Common Wealth think tanks have shown that profits were up 34 percent at the end of 2021 compared to pre-pandemic levels and that nearly all of this increase in profits was due to just twenty-five companies.
using the latest available figures for the largest 350 companies on the London Stock Exchange, recently showed that profit margins for the first half of 2022 were nearly double — 89 percent higher than the same period in 2019 before the pandemic.
The chief economist of UBS Global Wealth Management, Paul Donovan, stated that “Much of the current inflation is driven by profit expansion,” adding, “Typically, one would expect about 15 percent of inflation to come from margin expansion, but the number today is probably about 50 percent.”
The very rich are getting much richer extremely quickly. And entirely at our expense.