On any given day, Groundwork's analyses, op-eds, reports, and commentary are featured in leading publications and on the most influential news programs and podcasts.
About 10% of price increases in recent years come from companies charging the same price -- or more -- for smaller items, a group of economists say.
Today's economy is a clear repudiation of the theory that mass unemployment is necessary to bring inflation down. Unemployment has been below 4% for more than 24 months and inflation has been falling for more than 19 months off of its peak. All of the evidence suggests that the Federal Reserve must cut rates before they do further harm.
With Federal Reserve Chair Jerome Powell scheduled to testify before the House Financial Services Committee and Senate Banking Committee, Groundwork Collaborative’s Chief Economist, Rakeen Mabud, urges Congress to question Chair Powell, stating "The Fed’s rate hiking campaign was deeply flawed."
Shrinkflation responsible for as much as 10% of inflation in key product categories; Biden expected to address shrinkflation at SOTU.
"Junk fees, like the excessive late fees credit card companies charge, are yet another tactic corporations use to prey on customers and juice their profit margins even further," said Bilal Baydoun, director of policy and research at the Groundwork Collaborative. "CFPB's new rule demonstrates that policymakers can—and must—take on predatory, deceptive behavior and act as a strong check on corporate power."
Today, the Consumer Financial Protection Bureau finalized a rule that prevents credit card companies from charging late fees higher than $8, which will save 45 million people an average of $220 or more than $10 billion a year.
Today, President Biden announced a new, multi-agency task force focused on lowering costs for families, known as the “Strike Force on Illegal and Unfair Pricing.” Groundwork's Lindsay Owens reacts, stating “President Biden’s new task force is a welcome sight for consumers and bad news for the corporate profiteers.”
When it’s time to Stop & Shop, the American Publix is finding it costs more than ever to fill a Market Basket. Whizy Kim and Elizabeth Pancotti help Target the problem and explain whether a Price Chopper is coming to save us.
“High prices at the checkout line is not an accident,” said Rakeen Mabud, the chief economist and managing director of policy and research at Groundwork Collaborative. Kellogg’s specifically is part of a concentrated cereal market with very few competitors, leaving families without many choices, she added.
As The Guardian reported in January of this year, half of inflation in the US is due to corporate price gouging. A report written by the Groundwork Collaborative think tank revealed that corporate profits accounted for about 53 percent of inflation during last year's second and third quarters. It is no exaggeration to say that the profit motive at the core of Western society is, quite literally, cannibalizing the family unit and undermining the fundamental well-being of society's most vulnerable - including pets.