While rising prices continue to take a toll on millions of families, a new Accountable report shows dozens of corporate giants, including Procter & Gamble, PepsiCo, and Coca-Cola, used inflation as an excuse to increase prices and enjoy record-breaking profits. This report confirms what Groundwork’s Chief Economist Dr. Rakeen Mabud told Popular Information last week:
“[A]cross a range of sectors that produce the goods that people need to provide for their families, companies are extracting from their consumers using the excuse of inflation — all while lining their shareholders’ and CEO’s pockets. This has nothing to do with inflation, and everything to do with corporate greed by those who are focused on enriching themselves at the expense of workers and families.”
Email email@example.com to learn more about one of the driving factors of rising prices: mega-corporations with massive market power. Below is a sampling of reporting on recent price hikes that got it right:
Groundwork Collaborative: The 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.