richard09
Posts : 4358
Join date : 2013-01-16
 | | Subject: Half of recent US inflation due to high corporate profits, report finds Fri Jan 19, 2024 6:05 am | |
| Inflation has been a worldwide problem, as a result of supply chain issues after Covid. But many of the American public blame Biden for it, so it is a big issue for the election. Which makes this article significant. Half of recent US inflation due to high corporate profits, report finds - Quote :
- Prices rose in 2021 as labor costs jumped and supply chain shocks from the pandemic and the Ukraine war snarled shipping traffic and left energy supplies in question. But those issues have in many cases been fully sorted out or are easing, and the labor market has stabilized. Many commodities and services producers’ prices have actually decreased, the report notes.
Nearly 60% of the drop in key goods and services’ inputs was driven by large declines in energy costs, such as jet fuel and diesel fuel, while transportation and warehousing costs have fallen by nearly 4% since June 2022 peaks.
Still, prices remain high. Consumers are still paying about 25% more for groceries, the report notes as an example. |
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