Some Economists Say Corporate Greed Is the Real Culprit Even as Companies Blame Inflation for Higher Costs
Taking inflationary pressures into account, total overhead costs have only increased about 15% during the pandemic, yet the EPI analysis found companies on average have tacked 53.9% to the final cost of products, a 42% increase from a pre-pandemic level of 11.4% on average.
“They were explicit about it,” said Mabud. Basically the company said, “because we produce essential goods, our customers are not going to stop buying our products.”that the CEO of H.B. Fuller, a large adhesive company, recently told analysts that the company is starting to save money as some of the pandemic-related inflationary costs are declining. But CEO Jim Owens added they don't plan on passing any of those savings back to the consumer.
“How long can continue to do this?” Reich asked. “That depends on how long consumers are willing and able to pay for the higher prices.” and financial system, has been aggressively raising interest rates to try to cool the price spikes. But so far, there's little sign of progress.
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