Following news that retailers Target, Walgreens, Walmart, and more are cutting prices after slumping sales, Groundwork’s Chief Economist Dr. Rakeen Mabud reacted with the following statement:
“Corporations could have been cutting prices and passing their cost savings onto consumers months ago. Instead, they chose to keep their winnings at the expense of families whose budgets have been squeezed by their profiteering.
“It’s about time corporations lower prices, and there is more room for them to fall.”
Email press@groundworkcollaborative.org to speak with one of Groundwork’s experts about the role of corporations in high prices.