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Out of context: Reply #1271
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Greedflation: corporate profiteering ‘significantly’ boosted global prices, study shows
Multinationals in particular hiked prices far above rise in costs to deliver an outsize impact on cost of living crisis, report concludesAnalysis of the financial accounts of many of the UK’s biggest businesses found that profits far outpaced increases in costs, helping to push up inflation last year to levels not seen since the early 1980s.
The report from the IPPR and Common Wealth thinktanks found that business profits rose by 30% among UK-listed firms, driven by just 11% of firms that made super-profits based on their ability to push through stellar price increases – often dubbed greedflation.