Groundwork on CPI: Corporations are Raising Prices, Turning Record Profits

February 10, 2022

Today’s Consumer Price Index (CPI) release shows year-over-year inflation increased to 7.5%. Groundwork’s Chief Economist Rakeen Mabud responded with the following statement:

“Earnings calls are littered with CEOs bragging about how they’re able to use inflation as a cover for their price hikes. These higher prices are putting more pressure on struggling families and small businesses – all while CEOs and shareholders net record profits.

“The best way to bring down prices is to get our supply chains back up and running by making smart investments now — and prevent dominant corporations from siphoning them off or using them to accumulate even more market power.”

Email to speak to Dr. Mabud about one of the driving factors of rising prices: corporate price gouging. You can read her testimony, as delivered at last week’s Congressional hearing on pandemic profiteering, here.


Below are poignant examples of how people are being harmed by pandemic profiteering and price gouging:


Groundwork CollaborativeThe Groundwork Collaborative’s mission is to advance an economic vision for strong, broadly shared prosperity and true opportunity for all. Visit our website and follow us on Twitter @Groundwork.