CultureFriday 12.10.21

Corporate America Loves Your Inflation Prices

Inflation - you’ve probably seen it all over the news and, if not, you’ve definitely felt it at the checkout counter. Perhaps you’ve heard the argument that companies simply have no choice but to pass rising costs onto consumers in the form of higher prices. But that’s not the full picture. Emerging out of the pandemic, as many working people continue to struggle, corporate profits are hitting record highs. Many of the companies announcing price increases - from Dollar Tree to Chipotle - are swimming in cash; and, after 50 years of stagnating wages for workers, CEOs are earning an average of 350x the people actually getting you your coffee, bacon, or bananas. Regular Americans are taking a financial hit, and so far the headlines only partly explain why. The Recount’s Steve Morris breaks down the quieter forces that are squeezing our wallets.

The Daily Recount

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